Digia reports 6.8 percent revenue growth for 2016
Digia reported annual net sales of 86.5 million euros for 2016, as the company focused on restructuring following its demerger from Qt Group.
Digia Plc recorded a net revenue of 86.5 million euros for the 2016 fiscal year, a 6.8 percent increase compared to the previous year. Operating profit declined to 5.4 million euros, down from 5.9 million euros in 2015. The company attributed this performance to higher expenditure on recruitment and sales, as well as the conclusion of a long-term maintenance contract within its Swedish financial services division.
The year was defined by the company's separation from Qt Group in May 2016. Following the demerger, Digia shifted its strategic focus toward digital services, system integration, and enterprise resource planning (ERP) solutions. The company aims for an average annual growth rate of 15 percent, pursuing both organic growth and acquisitions, such as the June purchase of Igence Oy Ab.
CEO Timo Levoranta noted that 2016 was a foundational year for the firm. A significant development included a 15-year framework agreement signed in November with the Finnish Tax Administration to develop and maintain a national income register solution.
The Board of Directors has proposed a dividend payment of 0.08 euros per share. For 2017, the company forecasts accelerated revenue growth, while operating profit is expected to remain consistent with 2016 levels.