The Group continues growing in the Treasury and Financial Software market
Piteco Group closes 2021 with record results
Dedagroup continues growing and gets stronger in the Treasury and Financial Software market. On March 23rd, the Piteco Board of Directors approved 2021's Consolidated Financial Statements and Draft Separate Financial Statements for the Piteco Group, thus confirming its 2021 record results.
"I am very satisfied with the results achieved in 2021, which have rewarded our efforts and investments in favor of growth. Not only the solidity of the Group is confirmed rewarding its business model based on recurring fee revenues (51%), but the growth in profitability is greater than the growth in Revenues, with a performance of +78% of EBITDA (EBITDA margin of 45.2%) compared to + 58% of Revenues," said Marco Podini, Dedagroup's Executive Chairman and Piteco's Chairman.
In 2021, the Piteco Group reached 39 million euros in revenues. Its growth was due to the full-year contribution of Rad Informatica, the Italian leader in NPL management software acquired in 2020. Furthermore, the Group experienced a 4% structural growth mainly attributable to the volume's increase in recurring fees related to the use of the software.
Piteco saw a + 9% in revenues and a + 11% in Ebitda. Yet, the positive performance also concerned Rad Informatica and Myrios, specializing in risk management. On the other hand, the subsidiary Juniper Payments, operating in the US, is ready to ride the next market recovery. Indeed, it is currently launching a new Instant Payments solution designed for the Credit Unions market. That's a significant step for Dedagroup's Hub Finance national and international development, which Piteco Group is part of.
