Digia Reports Increased Net Sales and Improved Profitability for H1 2019
Digia Plc released its half-year financial report on August 9, 2019, showing continued profitable growth. The company's net sales increased by 16% and operating profit improved by 37.5% in the first half of the year.
Digia Plc has reported profitable growth for the first half of 2019, with net sales reaching EUR 64.6 million, a 16.0% increase year-on-year. The company's operating profit saw a significant improvement of 37.5%, totaling EUR 4.9 million. This growth reflects the company's efforts in developing its service portfolio, organization, and operating methods.
During the second quarter specifically, net sales grew by 13.5% to EUR 32.8 million, while operating profit increased by 47.6% to EUR 2.9 million. The company also reported a substantial improvement in its cash flow from operations, which reached EUR 8.4 million, a marked increase from the previous year's EUR -1.2 million. Digia strengthened its market position through strategic acquisitions, integrating Starcut Oy, a specialist in mobile apps and cloud services, during the first quarter.
Following the reporting period, on August 1, 2019, Digia acquired the entirety of Accountor Enterprise Solutions Oy (AES), a company specializing in Microsoft Dynamics 365 and Oracle NetSuite solutions. AES reported net sales of EUR 12.7 million in 2018 and employed 101 staff.
Digia has maintained its profit guidance for 2019, expecting continued net sales growth and an improved operating profit compared to 2018. Key drivers for this growth include strong demand for online business solutions, integrations, API services, and Microsoft ERP and business analytics systems. The company aims to provide comprehensive services for the ongoing development of customer solutions and to expand client cooperation.