Wiser’s Revenues Nearly Tripled in H1 2024
Pro-forma Consolidated Revenues, Including 2024 Acquisitions, Reach €13.8M
Sofia, Bulgaria, August 29, 2024 – Bianor Holding AD (BSE: BNR), operating under the Wiser Technology brand, announces a 192% year-over-year increase in consolidated revenues for the first half of 2024. Revenues reached €4.3M, up from €1.5M during the same period of 2023.
On a pro-forma consolidated basis, which includes the revenues from the companies acquired earlier this year, Wiser’s revenues surged to €13.8M for the first half of 2024. This is an over nine times increase compared to the same period of 2023. The newly acquired companies are consolidated in Wiser’s profit and loss reports starting with the third quarter of the year, and their effect will be reflected starting with the next quarterly reports.
Wiser reported a negative financial result before interest, taxes, and depreciation of €0.2M and a net loss of €0.3M for the first half of 2024.
“We anticipate continued rapid year-over-year revenue growth in the second half of the year and positive financial results for the full year, despite the significant focus and investments this year to support our aggressive expansion,” said Kosta Jordanov, CEO of Wiser. “In the first half of the year, we had over €0.2M in one-off M&A-related costs. Most of those are now behind us, and we refocus our investments towards the integration of all the companies in the group under a single organizational structure and brand and in the international expansion of our sales channels,” added Jordanov.
Wiser is planning a capital increase of up to €12.6M through the Bulgarian Stock Exchange in the second half of the year. The company invites all members of the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. During this meeting, Wiser’s management will provide further comments on the company’s financial performance and more information about the company’s growth plans, as well as the objectives and parameters of the upcoming capital increase.
About Wiser Technology
Wiser Technology (BSE: BNR) develops advanced mission-critical software solutions for the world’s leading companies in the automotive, aerospace & defense, telecommunications, and financial industries. Thanks to the accumulated knowledge and experience in these areas over the course of hundreds of projects, the company delivers high value to its customers and helps them create innovative projects and maintain sustainable competitive advantage.
The company’s team of over 400 top computer specialists, engineers, scientists, and consultants provides IT services from its delivery centers in Bulgaria, Serbia, and Greece. The company adheres to the highest quality and security standards, following processes certified to ISO 9001/20001/27001, NATO AQAP 2110/2210, TISAX, and others.