In the 9M of 2021, the Group noted an increase in revenues of 35.9%, increase in EBITDA of 59.9% and an increase in net profit of 297%.

In the first nine months of 2021, operating revenues of Span Group 35.9% YoY, reaching HRK 587.4m. Software Asset Management and Licensing, which accounts for the 73.5% of all revenues, noted an increase of 39% YoY, reaching HRK 430m. Meanwhile, all other segments noted a double digit increase as well, with Infrastructure Services, Cloud & Cyber Security segment noting the highest relative increase of 47%. Looking solely at Q3, one can observe a very solid increase in operating revenues by as much as 75% YoY. Looking at the 9m sales by region, 25% of it related to the Croatian market. Meanwhile, the most significant growth of revenues of the Group was noted on the UK reaching HRK 46m (+137%).

Operating expenses reached HRK 570.75m showing an increase of 34.1%. The expenses for goods and services sold increased due to increase of related revenue. Employee costs increased by 11% due to a higher number of employees.

The above mentioned led to EBITDA of HRK 27.32m, showing an increase of as much as 59.9% YoY. Such a result puts EBITDA margin at 4.7% (0.7 p.p. YoY). However, EBITDA before one-off items increased by 93%, to HRK 32.9m. One-off items present expenses incurred by Span for the listing on the ZSE regulated market and relate to all operating costs necessary for its realisation.

Going further down the P&L, operating profit amounted to HRK 16.7m, noting an increase of 158% YoY. In the first 9m net profit reached 15.05m, which represents an increase of 297% YoY.