In 2020, sales of the ALSO Group grew by 1.2 to 11.9 billion euros (+11.3%). Revenue growth was 11.8 in traditional, transactional Supply, 8.9 in Solutions, and 38.2% in the consumptional Cloud business. EBITDA was €227.5 compared to €196.7 million in 2019, with ROCE increasing from 15.5 to 21.0% over the same period.
Cash and cash equivalents increased by 38.3% to 483.2 million euros (previous year: 349.5 million euros). ALSO improved the net financial debt excluding IFRS 16 effect by 177 to 143.2 million euros. Cash is higher than financial liabilities by this amount (143.2).
For 2021, ALSO expects EBITDA to increase to between 240 and 255 million euros. Taking into account possible acquisitions, the company is aiming for EBITDA of 280 to 350 million euros in the mid-term. ROCE should be above 20% with purely organic growth and above 15% taking into account possible acquisitions.
Gustavo Möller-Hergt, CEO ALSO Holding AG (SIX: ALSN) summarizes: “Over the last ten years, we have created a solid, scalable and hard-to-reproduce foundation that enables us to expand further. The foundation of Remote Communication, which will shape the New and Next Normal, the pandemic and post-pandemic phase, is IT technology. Companies with robust ecosystems will have interesting opportunities to further expand their business. The prerequisites are integrated management systems and very well-trained employees; with their help the existing company can be continuously optimized and acquisitions integrated in a timely manner. This opens up additional growth opportunities for ALSO.”
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