DFNN Group grows revenue in 2022 by 69% and EBITDA by 190.7% from 2021

DFNN Group Chairman and Founder Ramon Garcia, Jr.

The DFNN Group enjoyed extraordinary development in all facets of its business in 2022. The Group had a successful fiscal year, recording total sales of 905.8 million, an increase of 369.7 million or a growth rate of 69% over the previous year. EBITDA was a healthy 237.5 million, as opposed to the prior year’s loss before interest, taxes, depreciation, and amortization of 252.2 million. The company’s successful equity restructure, along with the continuous increase in sales and the launch of numerous tailored interactive technology platforms, are all responsible for this tremendous turnaround.

EARNINGS REPORT

With revenue targets effectively met, the Group ended the year strong with a total revenue for the year ended Dec. 31, 2022 amounting to 905.8 million compared to 536.1 million in 2021, an increase of 369.7 million or 69% growth rate, year on year. EBITDA amounted to a robust 228.7 million versus a loss before interest, taxes, depreciation and amortization of 252.2 million year on year, resulting to a solid growth rate of 190.7%.

Gross profit stood at 586.6 million versus 135.5 million year on year, posting an impressive 333.1% growth rate. Net income amounted to 73.9 million for the period ended Dec. 31, 2022, sustaining a growth of 117.3%, year on year. This a direct effect of the significant increase in the sales and operations of all the company’s business streams.

Revenue from share-based income generated from interactive operations increased by 69.4%, year on year. Total revenue in this category amounted to 698.6 million compared to 412.4 million year on year. This impressive increase in commission income is attributable to a steady surge in sales and the introduction of various customized  interactive technology platforms.

Revenue generated from the development and maintenance of software solutions also posted steady growth amounting to 188.0 million, an increase of 80.5 million from 107.5 million or 74.9%, year on year.

Sales of software and application licenses amounted to 19.2 million, presenting an increase of 2.9 million or 18.1%, year on year. The increase in revenue is due to the increase in foreign license revenue.

All areas of the DFNN Group’s business continue to exhibit robust growth trends amid the residual effects of COVID as experienced by any other company and compounded by the challenging high inflationary environment.

As efforts to further operational efficiencies to lower costs are implemented, consolidated cost and expenses decreased by 89.8 million or 10.2% year on year, amounting to 792.9 million compared to 882.8 million in 2021.

Despite the lingering effects of COVID and the difficult high inflationary environment, the DFNN Group’s business showed strong growth trends in all areas. The organization’s outstanding performance is evidence of its tenacity and unwavering dedication to excellence. DFNN is prepared to seize the opportunities that lay ahead and is upbeat about the future. The company is well-positioned to pursue its growth plans and achieve even greater success in the years to come with a consolidated cash and cash equivalent of 99.2 million and no significant long-term debt.

As it continues to strive to constantly grow in the highly dynamic digital platforms and artificial intelligence (AI) industry, DFNN will further implement the strengths of its core competencies working with the latest Philippine laws which allow companies seamless implementation of its fintech, blockchain, quantum computing, and AI technologies. The Group and its partners envision to be leading propagators and use its cutting-edge capabilities to assist in laying down the foundation for a robust digital economy.


Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.



DFNN Group grows revenue in 2022 by 69% and EBITDA by 190.7% from 2021
Source: Bantay Radio

Post a Comment

0 Comments