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Novabase's profits exceeded 20 million euros in 2019

Novabase closed 2019 with a profit of 20.4 million euros. The Portuguese technological company reveals, in its financial results for last year, that the value represents a significant increase in comparison with 2018, where a profit was recorded in the order of 4.7 million euros.

The company highlights the positive impact of the sale of the data analytics and business applications sector VINCI Energies in November 2019. For Joo Nuno Bento, executive president of the company mentioned in a press release, the business was a fundamental achievement, being something that allowed management to focus on the Next-Gen transformation agenda.

Novabse Business Volume in 2019 Credits: Novabase

According to data released by tecnolgica, the volume of business grew by 9%, standing at 120.3 million euros. The company indicates that 68% of the volume corresponds to the Next-Gen sector. Regarding the geographic distribution of the business, Novabase explains that 57% were carried out at international level and 42.3% in Portugal.

Novabase also makes it known that in 2019, EBITDA, the result before taxes, interest and amortization, had an increase of 44.6% in relation to 2018, thus reaching 9.4 million euros.

Taking into account the results obtained in 2019, Novabase advances that it will propose to its General Meeting a reduction of 26.7 million euros in the company's share capital. The amount to be distributed by the shareholders, representing a remuneration of 85 cents per share.