The technology company Gigas grows 10% in 2023 and reaches 67.7 million euros

Gigas, the telecommunications and cloud services company for the business market – especially the small and medium-sized business segment – achieved a turnover of 67.7 million euros in 2023, which represents an increase of 10% compared to 61. 6 million from the previous year.

Gross operating profit (recurrent adjusted ebitda) reached €16.70 million in fiscal year 2023, after deducting extraordinary costs related to acquisitions and long-term remuneration plans. The figure is 1.3% higher than the 16.49 million euros in 2022, a small growth compared to 2022, a year in which significant extraordinary events were recorded.

The average revenue per client (average arpu ), which includes telecommunications and cloud services, reached 772 euros per month during 2023, 2.4% more than the 754 euros in 2022. The arpu of cloud services is significantly higher to telecommunications services, except in the case of ONI , the Portuguese subsidiary, which has a high arpu of telecommunications services, marked by wholesale services to other operators and by services to large companies.

By business, what grew the most was the Cloud, IT and Cybersecurity area, which increased significantly, 24.7% compared to the revenue obtained in 2022, linked to the strong growth of cloud in Latin America and full-year consolidation of TPartner , a subsidiary acquired in 2022. For its part, the telecommunications business increased its sales by 0.6%, due to the decrease in Spain, offset by the growth in Portugal.

By geography, Portugal represents 50.2% of the business with 33.5 million euros, which is 8.7% more. Spain contributes 38% of the total, with 25.36 million euros, 9.7% more than the previous year. Latin America accounts for 8.6%, while Ireland accounts for 3.1%.

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