MioGroup’s revenue rose 14% and its gross margin increased 44% compared to the same period in 2021

• The group posted revenue of 35 million euros in the first six months of the year.
• Gross profit margin has increased by 44% compared to the previous year, as a result of the greater value added by its service offerings.
• The Group has increased its workforce by 75% over the past year and has also brought on board executives with extensive experience to strengthen its growth strategy and prepare the Group for the international expansion of its services.

MioGroup has reported revenue of 35 million euros, up 14% from the first half of the previous fiscal year, and generated recurring EBITDA of 1.3 million euros, compared with the 1.4 million euros recorded in the first half of 2021.

Gross profit totaled 8.9 million euros, as a result of the company’s strategy focused on strengthening its high-value-added services segment, representing a 44% increase compared to the first half of 2021, notably, the gross margin-to-revenue ratio has risen to 25%, compared to the 20% reported in the same period of the previous year.

Likewise, EBITDA for the first half of the year reached 1.1 million euros, compared to the 1.3 million achieved in the first half of 2021. The company has expanded its workforce by 75% due to the organic and inorganic growth it has experienced over the past year. It has also strengthened its executive team by hiring high-level executives tasked with reinforcing the Group’s structures and processes to accommodate the anticipated growth resulting from its continued strategy of both organic growth and acquisitions, as well as to prepare the Group to scale up its service offerings and operations internationally. Furthermore, as part of its strategy to attract and retain talent, it has approved a share repurchase program to implement an incentive plan for the compensation of key employees.

The Company plans to publish the limited review of its interim financial statements for the first half of the year in September, and they will be made available to all investors, analysts, and other interested parties.

MioGroup remains committed to its inorganic growth strategy to build a national leader in the sector; as part of this strategy, the company announced during the first half of this year the acquisition of two companies: Datarmony, which specializes in developing data analytics solutions based on artificial intelligence and machine learning, and FIRMA, a brand consulting firm specializing in brand creation and development, creativity, and digital production. Both companies are headquartered in Barcelona and also add an office in Miami to the Group’s international presence. In this regard, the company notes that these companies, which were consolidated into its financial statements before the end of the first half of the year, had a negligible impact on first-half results.

The results presented reinforce the company’s commitment to talent, technology, and service integration to build a distinctive and increasingly competitive value proposition.

Yago Arbeloa, President of MioGroup: “In an economic climate such as the one we currently find ourselves in, these results show that we are getting closer and closer to consolidating the group’s position nationwide, and we expect to boost our gross margin by incorporating higher-value services, as well as by optimizing the Group’s operations, which will lead to improved overall results.”