Breaking News
- CleverTap Raises US$105M in Series D Funding Round Led by CDPQ
- Beacon Power Services closes $2.7m seed round to improve electricity access for cities across sub-Saharan Africa
- South Africa's Old Mutual Insure selects Sapiens for complete data and analytics solution
- GoGlobal expands operations in Africa with launch of Employer of Record services in South Africa
- Agreements between Azerbaijan and Algeria signed
- CairoHouse signs partnership agreements with CCC and CHROME to develop Al Tahrir Complex
- Thousands of African girls to be trained in coding
- SEACOM and British Telecommunications team up to deliver enterprise communications services in Africa
- DuckDuckGo increases protection from Microsoft trackers after backlash from users
- Lenovo Group: First Quarter Results 2022/23
- Nonprofit Funding Platform Heroe5 Launches The Good Society, Embracing Web3 Approach to the Sustainable Financial Benefit for Charities
- The Nature Conservancy and Global Partners Hold Session on Improving Protected Marine Areas at UN Oceans Conference With Support From Mary Kay Inc.
- Celebrities and Young Activists join PUMA’s Conference of the People to find Solutions for Industry’s Sustainability Challenges
- LG HVAC SOLUTIONS FOR EVERY BUSINESS
- Simplifying Software Security: Veracode Enhances Frictionless Experience for Developers
- Diligent Announces Shiza Shahid, Moisés Naím, Michael Montelongo, Veena Ramani and More to Deliver Impactful Sessions at the Fourth Annual Modern Governance Summit
- Tradewind Finance Funds Pakistani Workwear Manufacturer for Frontline Professionals
- Philip Morris Holland Holdings B.V. Extends the Acceptance Period for the Recommended Cash Offer to the Shareholders of Swedish Match AB Until October 21, 2022
- Sonelgaz CEO: “Algeria ready to increase electricity exported to Tunisia, project under study for Italy”
- Forescout Joins CISA’s Joint Cyber Defense Collaborative
- Everdome Secures US$10 million Investment Commitment from GEM Digital Limited
- The Anomali Platform Advances Intelligence-Driven Detection and Response Capabilities and Prevents Business Disruptions While Optimizing Security Expense
- Ferring Announces U.S. FDA Advisory Committee Meeting for RBX2660 its Investigational Microbiota-Based Live Biotherapeutic
- TNS Targets Global Growth with Strategic Acquisition of AGNITY Global
- MarineMax To Acquire IGY Marinas Significantly Expanding Global Marina and Services Business
- Corona Spearheads Eco-Tourism with Corona Island, the World’s First Blue Verified, Single-Use Plastic-Free Island
- A Digital Twin of Kabuki Actor Shido Nakamura Created with NTT’s Another Me Technology Debuts at “Cho Kabuki 2022 Powered by NTT”
- Waldom Electronics Announces New Advisory Board
- To Build Web 3.0 Native Payment Infrastructure, Airswift Raises $2 MM in Pre-Seed Funding Led by CE Innovation Capital
- Largest Chain of Stretching Studios Globally TOPSTRETCHING Drives Massive Expansion in the Gulf and MENA Using a Franchising Business Model
- ABR drives wealth creation, sustainable change in African private economy
- KOBO360 wins Best E-Logistics Platform at the Digital Tech Awards 2022
- Choosing the right printer helps small businesses to maximise productivity and achieve growth
- CBK grants Virtual Pay International a PSP License to operate in Kenya
- Tizeti eyes pan-African expansion launches new products to achieve 100% broadband access
- MEA Smartphone Shipments Decline 7.8% YoY in Q2 2022 on Macro Headwinds
- Trans Saharan Gas Pipeline: A Turning Point For Nigeria’s Gas Export
- upGrad Closes Investment Round of USD 210 Million
- IC Markets becomes Official Global Partner for Rugby World Cup Sevens
- Sharjah steps up emergency response efforts against extreme weather conditions
- Fresh Del Monte Partners with CAFÉ NAJJAR to Distribute High-Quality Coffee Products
- Algeria's Investments in Doubt as Recession Fears Drive Down Oil Price
- E-Payment in commercial spaces in Algeria: Here are details!-
- Algeria purchases up to 720,000 tonnes milling wheat in tender
- Algerian Businessman Refuses To Sell Angers’ Shares To An American Company
- Petrofac consortium awarded EPC project in Algeria
- GE Foundation announces grant to support flood relief efforts in South Africa-
- AGRA’s women agripreneurs of the year awards (WAYA 2022) top 15 applicants are here
- IAEA, FAO workshop strengthens food safety network across Africa
- KnowBe4 Announces the Establishment of KnowBe4 Ventures
Tecnotree Announces Second Quarter 2022 Financial Results

On Thursday, August 4, 2022, Tecnotree announced its financial results for the second quarter ended June 30, 2022. Tecnotree, the global Digital Business Support Systems (BSS) provider, reported a revenue of EUR 18.3 million in the second quarter, continuing its financial strength with considerable growth in MEA & APAC segments.Consolidated highlights of the results of Q2 and Half Year 2022: Net sales of EUR 18.3 million in the second quarter, showing 9% growth as compared to last year, and EUR 31.6 million for H1 with 13% growth from last year Operating result of EUR 5.1 million in the second quarter, and EUR 7.1 million for H1 Earnings per share of EUR 0.01 in the second quarter, and EUR 0.02 for H1 Order book at the end of the period EUR 72.8 million, with 32.4% growth as compared to last yearTecnotree CEO Padma Ravichander said, “Our customers have responded to our digital stack offering, with a strong order book for which we need to invest to deliver expeditiously. Despite rising costs due to external factors leading to thinner first-half net result margins, we continue to deliver new deployments to Tier-1 clients, which requires a greater initial investment. This investment today will ensure long-term recurring revenue over the next 3-5 years with our new customers by bringing stability. Our Digital Stack 5.0 is richer and capable of serving multiple markets and customers simultaneously.”Other achievements for the second quarter: Achieving the highest order book position of EUR 72.8 million - 32% higher than H1 in 2021, due to a surge in demand for Tecnotree products and solutions in the first half of 2022, with continued support from large tier 1 telecom groups such as MTN, STC, Zain, Ooredoo Tecnotree digital BSS suite 5 went live for enterprise and consumer businesses for MTN Uganda, driving process agility and customer delight Launch of digital transformation suite for MTN Ghana to meet enterprise market demand and deliver augmented customer experiences Tecnotree Awarded as Change-maker of the year by the Helsinki Stock Exchange Foundation, for being instrumental in driving growth in emerging markets with its 5G-ready digital products and solutions Launch of 5G cloud-native Digital Provisioning Platform for Zain South Sudan, and another tier 1 operator in the Middle East. Tecnotree DSPS is a pre-integrated suite that enables a centralized system for all provisioning-related planning and task management Tecnotree wins ‘MongoDB Independent Software Vendor (ISV) Partner of the Year - Telco’ for enabling customers to transition to new technologies and digital ecosystems Launch of DOCS, a 5G Digital Convergent Charging Platform which supports existing and futuristic monetization requirements of CSPs across the verticals and industriesAbout TecnotreeTecnotree is a 5G-ready digital Business Support System (BSS) provider, with AI/ML capabilities and multi-cloud extensibility. Tecnotree is among the first companies in the world to be Platinum Certified by TM Forum Open API standards, and our agile and open-source Digital BSS Stack comprises the full range (order-to-cash) of business processes and subscription management for telecom and other digital services industries creating opportunities beyond connectivity. Tecnotree also provides Fintech and B2B2X multi-experience digital marketplace to its subscriber base through the Tecnotree Moments platform to empower digitally connected communities across gaming, health, education, OTT, and other vertical ecosystems. Tecnotree is listed on Helsinki Nasdaq (TEM1V).For more information, please visit www.tecnotree.com or social media channels – LinkedIn I Facebook I Twitter View source version on businesswire.com: https://www.businesswire.com/news/home/20220804005494/en/