In brief
- 310% YoY revenue increase
- 28% gross margin and 6% EBITDA margin
- Q3 Earnings Call planned for 10.30 a.m. EET on December 5th, 2024
Sofia, Bulgaria, November 29, 2024 – The consolidated revenues for the third quarter (July-September) of 2024 of Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, grow 310% year-over-year to €7.4M from €1.8M during the same period of 2023. Wiser Technology reports a financial result before interest, taxes, and depreciation of close to €0.5M for the third quarter of 2024, or an EBITDA margin of 6%.
“In Q3, we began the integration of all Wiser companies under a unified organization and brand and made very significant progress while also finalizing the M&A transaction with Badin Soft,” said Kosta Jordanov, CEO of Wiser Technology. “Fuelled by M&A activity, our revenues continue to grow rapidly, and our client base continues to diversify. At 28%, our gross margins are at the level of global IT service leaders’ margins, and despite the integration overhead, in Q3, we achieved some partial EBITDA margin recovery as we shift focus from M&A back to operations. We expect to see more consistent EBITDA margin improvement in the second half of next year when we approach the final phase of the integration project. Meanwhile, we continue to make aggressive investments in organic growth, examples of which are the recent establishment of an office in Frankfurt and the appointment of Johan Bihl, former Strategic Sales Director at DXC, Wipro, and Capgemini, to head our operations in the Nordics,” added Jordanov.
Wiser Technology’s shares trade on the Premium segment of the Bulgarian Stock Exchange under the ticker BNR. The company recently completed a €12.3M capital increase from the public markets. Subject to approval by the General Assembly, the management plans a capital increase of 160,000 shares to distribute among all team members, fostering a culture of ownership and collaboration, key prerequisites for the company’s continued growth and success.
Wiser Technology’s Q3 Earnings Call will take place at 10.30 a.m. EET on December 5th, 2024. The meeting will be online and open to all analysts, investors, media, and the public upon registration.