Cuatroochenta obtained a consolidated profit of 172,816 euros in 2023, compared to the losses of 1.1 million euros it registered in 2022, as the company reported to BME Growth this Tuesday.

The gross operating profit (Ebitda) of the technology firm exceeded 2 million euros in 2023, a figure 54% higher than that of 2022, when it recorded an Ebitda of 1.3 million euros.

Thanks to operating leverage and progress in the integration process of the companies acquired by the company, Cuatroochenta improved its Ebitda margin by 195 basis points, up to 9.22%.

The technology company’s sales improved by 21% compared to 2022, reaching a total of 22.4 million euros, while Annual Recurring Revenue (ARR) increased by 27%, to 15.1 million euros.

The company has assured that it continues to actively seek opportunities to grow by purchasing new companies. In 2023 it did not make any acquisitions, but from 2019 to 2022 it bought several companies as part of its growth strategy.

The technology company recorded an operating cash flow of 1.72 million euros in 2023 and its financial debt was reduced from 11.1 million euros in 2022 to 9.8 million in 2023.

Net financial debt, for its part, closed the year at 7.7 million euros, slightly above the 7.6 million of the previous year.

“Cuatroochenta has a low risk profile, supported by the growing recurrence of its income, the geographical and sectoral heterogeneity of its broad customer base and the diversification of its business,” the company has highlighted.