10 November 2021

In the third quarter of 2021, the OEX Group continued its growth both on a consolidated basis and in its individual operational segments, while achieving its highest quarterly revenues and profits that year. The largest increases were noted in the eCommerce Services segment. The Group’s consolidated net profit attributable to shareholders of OEX S.A. amounted to PLN 17.3 million, which was a 100% increase over the same period last year.

‘We are very pleased with another quarter of earnings growth. The key companies have made good use of the opportunities associated with the growing role of eCommerce in the economy and are successfully developing by expanding their cooperation with customers,’ said Jerzy Motz, President of the Management Board of OEX SA

Revenues of the eCommerce services segment amounted to PLN 187.4 million in the three quarters of 2021, nearly 38% higher than last year. EBITDA (according to IAS17) of the segment amounted to PLN 20.4 million, an increase of 130%. More than half of this result was generated by Divante, a software house providing technology for eCommerce, while the highest EBITDA growth was achieved by OEX E-Business, which specializes in logistics and warehousing. Another company in the segment, Voice Contact Center, also performed historically best, achieving over PLN 5 million in EBITDA, i.e. more than 80% higher than in the same period last year.

‘The implementation of strategic intentions to develop eCommerce and build an ecosystem of services for customers has greatly accelerated. We are expanding the warehouse space to handle a growing number of operations, and increasing the number of contact centre positions. We are particularly pleased with the international success of Divante and the technologies created there, which are gaining customers both in Poland and abroad. One such example is Vue Storefront Inc. initially developed under Divante, which in October this year raised $17.4 million in development funding from funds and investors at its pre-transaction valuation of $63.0 million,’ said Jerzy Motz, President of the Management Board of OEX SA

The Sales Support segment also recorded results significantly better than those achieved in the same period last year, mainly due to the development by OEX Cursor of a project with one of its key customers. The segment’s revenues amounted to more than PLN 148 million and were 47% higher than last year’s figure. EBITDA (according to IAS17) of the segment increased by 67% to PLN 7.9 million.

The Retail Sale Network Management segment achieved a growth of more than 17%  in the income from commissions on the sale of telecommunications services, and the number of contracts signed at the stores increased by nearly 16%. At the same time, the average number of stores rose from 332.7 to 357.4, up by 7.4% year-on-year, thanks to the acquisition of 27 stores operated for T-Mobile in December 2020. EBITDA (according to IAS17) of the segment amounted to PLN 15.8 million, an increase of 14%.

The stable financial situation in the main business lines allows us to further develop innovations and technological projects in the area of digitalization of sales,’ adds Jerzy Motz, President of the Management Board of OEX SA

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Małgorzata Fischer
+48 663 500 200