Hilversum, September 1, 2022
Turnover in H1 2022 more than doubled compared to H1 2021
As in the Xillio investor update from April 19, 2022 already reported, turnover in Q1 2022 doubled compared to turnover in 2021. This trend has continued in Q2 2022, meaning that turnover in H1 has more than doubled compared to 2021.
We further indicated that we aim for a turnover of more than 5 million euros with healthy profitability. We are well on schedule for that goal. We also successfully placed the emission loan III. We have now paid off emission loan I and will pay off emission loan II in December 2022.
We also hired 5 new consultants in the past month. This has further increased the earning capacity and we can continue the growth of the services in addition to the growth of the software. We are of course very pleased with a doubling of turnover over a period of 6 months. However, we would like to warn that this doubling will not continue forever. Not that the business is not growing or that the pipeline is decreasing, on the contrary, both the pipeline and the business continue to grow very fast, but simply not because the absolute numbers are becoming too large.
Finally, we do not expect growth to stop due to the upcoming recession. We are in a good market in which we realize rapid cost savings for the customer. However, as additional insurance, we have decided to pay more sales and marketing attention to the government. Past experiences have proven that timely and additional attention to the government is a recession-proof strategy.
