There are two factors that contributed to the improvement in the technology division’s financial results for the 9 months compared to the previous year. The first is related to the significant increase in the share of services in the division’s revenues, due to the need of customers to upgrade existing infrastructures following the inability to deliver new equipment caused by the semiconductor crisis. The second factor is the stabilisation of hardware delivery times. Thus, the gap caused by the initial extension of delivery deadlines could be bridged and business is now operating in new parameters. Gross margin increased by 40% compared to the previous year, resulting in a 332% increase in operating profit in the first nine months of 2021 compared to 9 months in 2020.
|
30/Sep/21 |
30/Sep/20 |
Evolution |
|
| Revenues from contracts with clients |
73,842,251 |
68,941,735 |
7,11% |
|
Revenues from the provision of services |
17,483,711 |
13,545,042 |
29,08% |
|
Sale of goods |
56,358,540 |
55,396,694 |
1,74% |
| Cost of sales |
60,123,789 |
59,184,403 |
1,59% |
|
Cost of sale of goods/materials |
48,552,480 |
48,768,947 |
-0,44% |
|
Cloud services |
4,199,042 |
3,650,522 |
15,03% |
|
Man-hours |
7,402,267 |
6,764,933 |
9,42% |
| Gross margin |
13,718,462 |
9,757,333 |
40,60% |
| Other incomes |
2,588,870 |
119,786 |
2061,25% |
| Sales/distribution expenses |
4,099,973 |
3,735,469 |
9,76% |
|
Staff expenditure |
3,554,610 |
3,377,389 |
5,25% |
|
Advertisement |
545,363 |
358,079 |
52,3% |
| Administrative costs |
5,011,133 |
4,477,976 |
11,91% |
|
Man-hours |
2,556,326 |
2,424,996 |
5,42% |
|
Travel and transportation expenses |
60,599 |
40,775 |
48,62% |
|
Headquarters rent |
151,186 |
31,722 |
376,6% |
|
Rental of equipment |
158,848 |
49,240 |
222,6% |
|
Materials |
86,375 |
101,355 |
-14,78% |
|
Amortization |
894,255 |
950,704 |
-5,94% |
|
Insurance |
86,287 |
91,291 |
-5,48% |
|
Telecom and post expenditure |
54,890 |
60,789 |
-9,7% |
|
Bank fees |
44,862 |
30,696 |
46,15% |
|
Other services performed by third party |
773,015 |
512,254 |
50,90% |
|
Other expenditures |
294,613 |
184,154 |
59,98% |
| Operating profit |
7,196,227 |
1,663,674 |
332,55% |