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June 27, 2022
BUSINESS COMPANIES ECONOMY

Life is Hard announces financial growth for the first quarter of 2022

Its turnover, EBITDA, net profit, and liquidity – are all on the rise

Life is HARD | Work Soft, a technology company listed on BVB, AeRo market, announces increases in all financial performance indicators in the first quarter of 2022. Thus, the turnover of the company grew by 16,28%, the net profit improved by 39,64%, and the EBITDA is 49,99% higher than in a similar period in 2021. LIFE IS HARD has also improved its liquidity, and is preparing the acquisition of a new technology company, for which it will allocate an amount estimated at 2,8 million euros.

In the first part of this year, the turnover of LIFE IS HARD reached 6.040.341 lei, of which 48,01% is related to the ITC & TELCO division, 32,46% is generated by INSURANCE (24broker), while 19,53% comes from other projects. The largest share in turnover (46,52%) is the activity in the area of telecommunications, which generated revenues of 2.810.057 lei.

The growth rate of operational revenue compared to operational expenditure had also a positive influence on the operational result, bringing a profit of 521.312 lei, which represents an increase of 69,13% compared to the previous reporting period.

Moreover, in the first quarter, the company decreased its debts by over 2%, and in terms of the degree of indebtedness, LIFE IS HARD presents a low level of risk exposure.

The year 2022 is marked by two major directions for LIFE IS HARD: The continuation of accelerated growth initiated in 2020, as well as the consolidation and security of the asset we have acquired in the last 24 months. During this year we will see growing results in some business segments, in addition to investments to strengthen others, specifically those areas we rely on to generate increased income in the medium and long term.

Our approach is to accelerate for now and strengthen for the future. Even if these initiatives bring increased pressure on our teams and require sustained effort from all, the results prove that we have a fair and responsible strategy” says Cătălin Chis, CEO, and President Of the Board of Directors LIH.

For the current year, LIFE IS HARD has set several targets, which include the continuation of the campaign

for the acquisition of new skills and technology companies, respectively generating revenues of 25 million lei, in addition to the increase of the stock market capitalization to 100 million lei.

Furthermore, another priority is to increase the performance of the internal team, which will be stimulated by bonus programs (the Stock Option Plan), as well as by training to ensure continuous development.

Life is HARD | Work Soft, the first Romanian software development company listed on the stock Exchange Bucharest – AeRo market – recorded a 199% increase in turnover and a net profit of 3,5 million lei in 2021, 227% higher than in 2020. The company has carried out several actions over the past year to help shareholders to make their portfolio more flexible, the most notable being the split shares, as well as a series of measures that have had positive effects on the shares’ liquidity.

 

 

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