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Tecnotree, a leading global telecom software and ecosystem provider from Finland, today announced its financial results for the fourth quarter and full year of 2021. The company grew its revenue by 27.2 % in the fourth quarter and by 21.6% in the full year compared to the year 2020, along with the revenue being the highest over the last six years.

Key Highlights for the full year 2021:

  • Net sales were EUR 64.2 million with a growth of 21.6% compared to last year
  • The full-year operating result was EUR 23.7 million, compared to EUR 18.6 million last year
  • The net result for the full year was EUR 18.3 million compared to EUR 13.6 million last year
  • Cash flow after investments was EUR 4.0 million and the company’s cash and cash equivalents were EUR 17.6 million
  • New orders recorded for the full year totalled EUR 85.6 million showing a 43.9% increase compared to last year and being the highest in the last nine years
  • Earnings per share were EUR 0.06

Tecnotree CEO, Padma Ravichander, said, "Last year has been exceptional for Tecnotree. We have proven to be resilient and continued to make significant progress by winning new logos across different regions with our leading-edge digital BSS Suite 5 product portfolio. Despite the ongoing pandemic, Tecnotree continued to reinforce its position as one of the leading Digital BSS service providers by increasing its order intake to EUR 85.6 million, highest in the last nine years. Tecnotree has a strong competitive advantage to serve the fast-evolving global telecom industry as its 5G ready and cloud native Digital BSS solutions have been tested by multiple telecom operators for large digital transformations and its new Fintech, Cloud and B2B2X offerings gain strong momentum across markets".

Furthermore, the fundraising, the retiring of debt and coming out of restructuring programme in 2021 built strong confidence among Tecnotree’s stakeholders which led to new customer & partnership opportunities, and it is expected to remain the same in 2022 as well. In addition to this, Tecnotree has continued to be an attractive company for talents globally.

Looking forward to 2022, we are focussed on accelerating our journey of profitable growth and portfolio diversification. As a company we continue to make positive strides in this direction by increasing our brand presence and becoming a trusted partner for customers to enable them to reap the benefits of the 5G implementation and digital transformation. Finally, we will continue forming new partnerships with ecosystem players in the sectors of Fintech with our DiWa digital wallet and digital banking capability as well as in the areas of education, health, gaming, sports, and entertainment through our Tecnotree Moments platform.

Some of the other notable business achievements for the year included:

  • Tecnotree gained fundraising through equity of EUR 22 million. Retiring its long-standing debt, it came out of the restructuring program in 2021
  • Won multiple new logos across markets, visible in the order intake and order book growth
  • Tecnotree’s customer portfolio was further enhanced with the addition of large telecom operators such as Zain Group and Ooredoo Group, for their digital transformation projects
  • Tecnotree launched DiWa, a Digital Wallet set to reshape and modernize payment methods
  • Tecnotree Moments, an innovative B2B2X multi-experience commerce platform was introduced, and it gained incredible momentum with exclusive partnerships with MTN Nigeria and Dubai Sports Council
  • The company continued to expand and hire new employees during the year despite the pandemic

Further Information
Padma Ravichander, CEO
tel. +97 156 414 1420


Tecnotree is the only full-stack digital business management solution provider for digital service providers, with over 40 years of deep domain knowledge, proven delivery, and transformation capability across the globe. Our open source technology-based agile products and solutions comprise the full range (order-to-cash) of business process and subscription management for telecom and other digital service providers. Tecnotree products and platforms service over 800 million subscribers worldwide. Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit our website or social media channels – Linkedin I Facebook I Twitter

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