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MAY 15 2019
Tags: tas group

TAS Group doubles its EBITDA in the first quarter of 2019

TAS Group experiences continued financial growth with core revenues increasing by 23.2%, while its gross operating margin (EBITDA) has doubled compared to the same period in 2018.

Geographically, it is seeing an acceleration in market activity in North America where its Card 3.0 offering, combined with an attractive Cloud proposition is proving highly successful. In the Brazilian market, new opportunities are opening up related to Strong Customer Authentication (SCA) with its latest EMVCo 3D Secure 2.0 offering. 

The first quarter also saw the signing of an important contract with an Anglo-Arab digital bank, where TAS solutions were considered as key to the start-up of the Bank's operations.

President, Dario Pardi, commented: “The growth of TAS continues, which, after having positively closed 2018, also closes the first quarter with a strong improvement in the key economic and financial indicators. We are confident for the rest of the year, considering that on one hand we have completed the process of financial restructuring, eliminating the residual debt with the Financial Institutions in December last year, and on the other hand, equipped the company with all the tools necessary for continued growth.

CEO, Valentino Bravi, added: "TAS today is at the forefront, perfectly positioned to seize the opportunities that the growth in digitalization in the market is bringing, in particular by meeting a growing demand for IT solutions in digital payments and within the treasuries of financial institutions”.

 

Read the full press release in the Investor section (in Italian)