Creactives Group SpA: Update about the impact of Covid-19 on business - Creactives SpA recovered in 2020-2021

[ Report ]

Verona (pta006/28.04.2021/08:40) - Verona, April 28, 2021. Creactives Group S.p.A. ("Creactives Group") (ISIN IT0005408593 - ticker: CREG), an international company that develops Artificial Intelligence technologies to address real-life business problems in the Supply Chain, shares an update about the impact of Covid-19 on business.

After the negative impact of Covid-19 on performances in 2019-2020 (ref. "Press release - August 7, 2020" and "Press release - September 25, 2020"), Creactives SpA, the fully owned operating company controlled by Creactives Group SpA, expects to grow by 30% in 2020-2021, reaching a turnover of 4,5M EUR vs. 3,4M EUR in 2019-2020.
The company ends its fiscal year on June 30 and begins the new one on July 1. The current fiscal year is July 1, 2020 - June 30, 2021 (ref. 2020-2021), while the previous one was July 1, 2019 - June 30, 2020 (ref. 2019-2020).

Paolo Gamberoni, CEO of Creactives Group, comments: "After a very unusual 2019-2020, since the end of 2020 we restarted our sound - double-digit - growth. Revenues from SaaS are growing 40% this year, with recurring revenue around 45% of the total turnover. Revenues from Germany are growing more than 100% and are expected to be over 750k EUR this year. We signed contracts with clients for a total contract value exceeding 7M EUR in the last 10 months. In general, we are happy about this rebound and positive about the future outlook of our company, although the pandemic is not yet over and we still observe its impact in terms of lack of industry events, change in the go-to-market channels and slowness in the development of business relationships in the different countries, in the periods where full lock-down actions are in place. Currently, we are not able to estimate the impact of Covid-19 on our business in the future. Still, as it is evident from our performance, the situation is normalizing in 2020-2021 and the company restored its historical growth trend."

(Ende)