R22 announces another takeover
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The R22 technology group can allocate EUR 8-9 million for further acquisitions. According to the company’s management, the hosting market in Poland is already significantly consolidated, but there are still potential targets.
R22 analyses the market situation
As a result of the cooperation with PFR TFI, the R22 group still has about EUR 9 million in acquisition funds, which it intends to allocate for a new acquisition in the near future. The group does not intend to repay the debt from its cash surplus – it assumes that the ratio has fallen, not the nominal value of the debt. At the end of March, the net debt of R22 (excluding loans subsidized by PFR TFI) was equal to 2.8 times the quarterly EBITDA as analyzed.
At the beginning of 2020, the R22 Group purchased a 29.4% stake in Profitroom, which provides IT systems for booking rooms via the Internet and supports hotel management. The COVID-19 pandemic period had a negative impact on the Profitroom’s revenues. However, the Group hopes that the economy will improve over the next few months, mainly due to limited opportunities for foreign travel and increased demand for domestic tourism.
Increase in revenue by one third in Q1 2020
R22 continues to maintain dynamic business growth and improves its efficiency and profitability. In the first quarter of 2020, the group’s revenues amounted to PLN 49.5 million, which means a 33% increase to the previous period. The net result attributable to shareholders of the parent company was 14% higher to PLN 3.9 million.
R22 policy is to provide customers with support and automation of business processes in such departments as communication, marketing and sales. The portfolio of services includes, among others, hosting, domains, multi-channel communication and SaaS solutions, which were added in connection with investments in external entities.