Sidetrade: Annual results, a further year of doubl
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Further year of strong growth recorded: 13% increase in revenue
Backlog growth at 31 December 2016: +24%
Strong growth in operating profit: +20%
Artificial Intelligence: a revolution for businesses
Further year of strong growth: 13% increase in revenue
| Consolidated financial statements* Sidetrade Group (in € millions) | 2016 | 2015 | Variation |
| Revenues | 18.1 | 16.0 | +13% |
| Operating Profit | 2.1 | 1.7 | +20% |
| Pre-tax Income | 2.0 | 1.7 | +19% |
| Net profit | 1.8 | 1.6 | +8% |
- The consolidated accounts have been audited. The certification report will be issued following completion of the procedures required for the publication of the annual financial report. The acquisitions of BrightTarget and Iko System are not included in the 2016 results.
Across activity in 2016, Sidetrade Group achieved a turnover of €18.1 million, with wholly organic growth of 13% and robust international demand. This consistent and continuous performance, across successive quarters, reaffirms the success of its innovative product offering and demonstrates its ability to consolidate its position as market leader.
Backlog Growth at 31 December 2016: +24%
The year witnessed the addition of prestigious new accounts to the subscriber base, among them: NHS Property (UK), Deloitte (Belgium), Carrefour Property, Docapost (La Poste Group), Intersport, PageGroup (Germany, Austria, Spain, France, Italy, Switzerland), Saint Gobain Abrasifs (21 countries), Talend (Germany, US, France, UK), Univar (Greece, Italy, Turkey), Equiniti Group Plc, Hearst Magazines, Idex, Samworth Brothers Ltd, Strego, Securitas AB (Norway), Viséo, Renold US, Valor Hospitality...
Recurring revenue generated by SaaS resulting from these multi-year contracts ensures excellent visibility of medium-term income. Accordingly, the SaaS backlog at 31 December 2016 stood at €26 million, representing a 24% growth. This committed unrecognized income is not included in the Group income statement or balance sheet at end-2016.
Sharp rise in operating profit: +20%
Notwithstanding significant investments made both in France and the international arena, operating profit recorded strong growth, achieving €2.1m in 2016, against €1.7m in 2015: an increase of 20%.
Sidetrade pursued its strong investment growth strategy with the development of a Data Science Lab (€0.6m) and the strengthening of its Sales and Marketing teams (€0.8m).
As of 31 December 2016, the number of Group employees stood at 208 (versus 163 at 31 December 2015), of whom 40% are based abroad.
Net Income 2016 stands at €1.8m, up by 8%, following tax deductions of €0.24m, compared to €0.05m in 2015.
Notwithstanding acquisition of start-ups BrightTarget and Iko System at end 2016, Sidetrade Group maintains a solid financial structure, with debts held to €0.3m, cash flow recorded at €7.2m and 80,000 Treasury shares.
Artificial Intelligence, a revolution for businesses
The improvement in results seen in the last three years justify the relevance of the Target25 strategic plan, which aims to achieve 20-25% growth by end 2017. Target25 is now in its final year of implementation.
The Board of Directors is fully confident of its ability to deliver strong growth across 2017 activity.
In 2017, Sidetrade Group's results will be underpinned by investments made in Sales and Marketing, Sidetrade Payment Intelligence (SPi) solution and the broadening of its offer across the entire customer cycle, following its acquisition of BrightTarget and Iko System.
Olivier Novasque, Sidetrade Founder and CEO, states:
"Technological progress isn't linear; it's exponential. The software industry has taken 15 years to reach the Cloud era. It's going to need less than five to reach the far more disruptive era of Artificial Intelligence.
Today, the burning issue for businesses is the intelligent use of data to enable faster, easier creation of added value. The most successful companies have already begun experimenting with Artificial Intelligence to move their businesses forward through short, task-driven projects.
With our unique customer engagement platform, Sidetrade's now able to put Artificial Intelligence at the heart of company customer relations to both increase sales and boost cash flow."
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