Vercom S.A., a technology company providing cloud-based solutions in the CPaaS (Communication Platform-as-a-Service) model, is wrapping up 2022. During the reported period, the company achieved record results, while leapfrogging its global market. Revenues in 2022 amounted to more than PLN 260 million, an increase of 45 per cent year-on-year, the gross margin increased more than twofold to nearly PLN 116 million. Adjusted EBITDA, in turn, reached over PLN 55 million recording a 49 per cent increase y-o-y. Net profit reached PLN 31 million, out of which the Management Board will recommend the payment of approximately 80 per cent in the form of a dividend to shareholders.
The past year was absolutely exceptional in many respects. Thanks to our expansion into the global market, we have not only secured scope for further dynamic growth in the coming years, but have also become independent of economic factors specific to our region. We already serve more than 66,000 customers worldwide, a threefold increase over last year, and overseas sales account for nearly half of our revenue, comments Krzysztof Szyszka, CEO of Vercom.
The company had a successful IPO in May 2021, during which it announced a number of acquisitions. The acquisition of MailerLite in was the latest of these. In total, Vercom has spent more than PLN 400 million on M&A. The company now wants to focus on further business development in the international market and integration of the acquired entities.
An intensive period of investment is behind us. We are currently focusing on further growth in foreign markets, where we are selling high-margin, scalable services offered in a self-service model, which are also characterised by high growth rates. Historically, we have doubled our EBITDA result every two years or so and we strongly hope that consistent implementation of our strategy will allow us to maintain similar growth dynamics in the future,’ says Łukasz Szałaśnik, Vercom’s CFO.
In connection with the record results and the end of an intensive period of investments, the board decided to establish a dividend policy. It assumes the payment of at least 50% of the consolidated net profit for 2022 and beyond. The Board of Directors plans to recommend to the AGM the payment of a dividend for the past year of approximately 80 per cent of the consolidated net profit, which reached PLN 31 million.
We are generating strong cash flow, which allows us to comfortably service our debt and accumulate significant amounts of cash. Accordingly, we intend to recommend to the next General Meeting that a dividend equivalent to approximately 80 per cent of consolidated net profit be paid. We will strive to make its amount nominally higher every year. In this way, we would like to thank the shareholders for their trust and share this joint success with them,” adds Krzysztof Szyszka.
Vercom creates cloud-based communication platforms that enable companies to build lasting relationships with their audiences through multiple communication channels. Vercom’s solutions have been helping customers automate and scale their communication processes for 20 years, while maintaining high deliverability and efficiency.
Today, Vercom’s services are used by more than 66,000 companies and private entrepreneurs in 180 markets, including entities such as IKEA, Rossman, American Express, DHL, Coca-Cola and BNP Paribas. The Vercom team comprises more than 300 people concentrated in 30 locations worldwide, including San Francisco, New York, Berlin, Prague, Poznan and Warsaw. The Vercom Group is characterised by a strong growth business profile, with EBITDA growing at an average annual rate of more than 50 per cent over the past five years, reaching PLN 55 million in 2022.
Since 2021, the company has been listed on the Warsaw Stock Exchange and is part of the sWIG80 index. As at the date of publication, Vercom’s market capitalisation value exceeds PLN 1 billion.
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