Transcom Holding AB (publ): First quarter report 2021
First quarter 2021 highlights
- Revenue increased to 150.9 M€ (127.7)
- EBITDA excluding non-recurring items* increased to 18.7 M€ (13.8)
- EBITDA margin excluding non-recurring items increased to 12.4% (10.8%)
- Operating cash flow increased to 11.7 M€ (7.3)
- Net debt/EBITDA* decreased to 3.3 (3.8)
Comments by the CEO
Accelerated organic growth and increased profitability
During the first quarter, organic growth amounted to 20%, excluding currency impact and the EBITDA margin increased 1.6pp. Drivers for increased growth and profitability largely remains the same as for 2020. Revenue growth is driven predominately by the eCommerce & Tech sector. Profitability improvements are driven by increased volumes, increased productivity and a continued positive mix shift towards eCommerce & Tech.
2021 revenue from newly signed contracts amounts to €44 million, already exceeding the full year revenue from new contracts during 2020. The strong sales momentum is enabled by our digital offering, including customer facing solutions such as chatbots and email automation, as well as operational solutions for agent engagement, coaching and performance. Our momentum is also supported by our near and offshore expansion. In Q4 we announced new sites in Bogota, Malaga and Zenica, which are now ramping for clients.
At the AGM on May 3, Lisa Stoner and Donald Hicks were appointed to the Board of Directors. Both have extensive experience of Customer Experience from world leading tech companies. Their experience will support our development in North America and in the eCommerce & Tech sector.
Our strategy delivers and we’re staying the course. We are going for profitable growth through client focus and operational excellence, driven by great culture and leadership. And we will continue to strengthen our digital offering, increase our near/offshore delivery and grow in the eCommerce & Tech sector.
The outlook for the full year is strong, albeit ramp-up cost for new clients and the Covid pandemic will have an impact in the near term.
Jonas Dahlberg, President & CEO
Q1 2021 Financial Update Webcast
Date/Time: Wednesday, May 12, 2021 at 9:00 CET
Important note: Please register via the link above at least 5-10 minutes prior the webcast in order to obtain the webcast link. If you register in advance, you will be sent an email reminder an hour prior to the webcast.
This information is such that Transcom Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on May 12, 2021.
*EBITDA and Net debt including IFRS 16 Leases, please refer to note 13 for details of restated figures for comparison periods.