Remote working trend spurs Spanish telco Lleida.net to best results in its 25-year history

Lleidanetworks Serveis Telematics SA

25/01/2021 12:34

Jan 25 (Reuters) - Spanish telecom firm Lleida.net  LLN.MC 
said on Monday its 2020 results were the best in its 25-year
history, after COVID-19 lockdowns boosted its digital signature
business.
    The Madrid-listed small cap firm said preliminary sales in
its software-as-a-service line more than doubled in the fourth
quarter, and rose 59% in the full year, as widespread remote
working since the beginning of the pandemic boosted demand for
its digital signature services.
    Lleida.net offers secure services that can be used as legal
evidence, such as certified text messages or emails.
    "Despite the catastrophic situation caused by COVID-19, the
company's performance was the best in its history," CEO and
founder Sisco Sapena said in a statement. "2020 represented a
before and after for the digital signature industry and also for
Lleida.net."
    Lleida.net's market capitalization grew five-fold in 2020,
starting from a modest 16 million euros ($19.42 million) in
January and finishing the year close to 100 million euros
($121.40 million), according to Refinitiv Eikon data.
    The company said its full-year sales rose 20% to 16.4
million euros compared to the same period in 2019. Profit before
interest, taxes, depreciation and amortization was up 17% to 2.6
million euros.  
($1 = 0.8237 euros)

 (Reporting by Anita Kobylinska, Editing by Inti Landauro and
Susan Fenton)
 ((anita.kobylinska@tr.com; +48 58 769 65 38;))