The net period profit of the company increased by 57% in 2022 and reached ₺416 million.
Logo Yazilim increased its sales revenues by 101% to ₺1 billion 541 million last year.
Logo Yazilim announced its financial results for 2022.
Continuing its operational and financial resilience and exceeding the expectations that it updated upwards during the year, the company increased its sales revenues by 101% compared to the previous year and reached ₺1 billion 541 million.
Having achieved a strong balance sheet with effective financial management, Logo Yazilim increased its profit before interest, depreciation and tax (EBITDA) by 72%. Net profit for the period increased by 57% in 2022 and reached ₺416 million.
Significant increase in both TL and dollar equivalents in IFRS and invoiced revenues in Turkiye operations
Logo Yazilim recorded a significant increase in both TL and dollar equivalents in IFRS and invoiced revenues in Turkiye operations. Logo Software Turkiye increased its sales revenues by 98% to ₺998 million. Continuing to expand with the acquisition of new customers, Logo Yazilim Turkiye also significantly increased its cloud revenues.
The number of active customers of eLogo, the market leader in e-Devlet solutions, reached 135,000 with an increase of 42%.
The number of users of Logo Isbasi, the SaaS solution that enables the digitalization of micro SMEs, increased by 32% to 49 thousand.
Logo Total Soft, the company’s subsidiary in Romania, recorded a 27% increase in its euro-based revenues.
While a significant growth was achieved in one-time license sales and project revenues, the public took a role in digitalization projects.
Logo Infosoft in India is implementing organizational and marketing strategy changes in order to expand its customer portfolio in the future.
R&D expenditures of Logo Yazilim, which contributes to the IT ecosystem and digitalization of the economy with high added value, continued to increase. ₺474 million R&D expenditure was made in 2022, an increase of 104% compared to the previous year.
Source: AA / Prepared by Irem Yildiz