The Board of Directors of TAS S.p.A. met March 21, 2018 to approve the Consolidated Financial Statements for the year ending December 31, 2017. The Group generated revenues of € 61.4 million, up 28% from the previous year. A similar growth was also shown for EBITDA, increasing by 28.5% compared to 2016.
Executive Chairman Dario Pardi commented: “2017 was a positive year for TAS Group. This is the result of our renewal and repositioning strategy, leading TAS Group to remarkable improvements measured by all financial indicators. The Group’s stronger and more solid from a financial point of view, and is ready to face the new challenges in a constantly evolving sector. ”
2017 also marked an acceleration in the investments aimed at our International growth in Europe and in the United States through key agreements, among which the strategic partnership with Oracle for its Digital Innovation Platform, the cooperation with AHK, the Italian-German Chamber of Commerce, and the agreement with Ibira partners for the Brazilian market. An additional goal has been the launch of a brand new Data Center in Sophia Antipolis – one of the most advanced from a technological and security point of view – enabling the highest service levels for TAS Group’s SaaS and Cloud offerings.
We’re very confident for our future, and thanks to the increased financial and reputational capabilities of the Group, we will be targeting also inorganic growth through acquisitions both in the national and international markets.
CEO Valentino Bravi added: “Last year TAS has managed to reaffirm its technological and market leadership in the emerging FINTECH sector. This was achieved through the continuous commitment of the Group in R&D activities, dedicating more than 10% of the core revenues. We consider those investments an essential value in our strategy of growth and consolidation in the national and international market.”
An example: TAS was the first Italian company, and one of the first in Europe, to develop a solution enabling financial institutions to comply with the revised European PSD2 Directive, which aims to innovate and increase competition among Payment Service Providers for the benefit of end-customers. To this extent, we also developed a platform (to be released by the second quarter of 2018) that will facilitate the new TPPs (Third Party Providers) offering innovative services made possible by the PSD2 regulation.
Also in relation to the GDPR – the new European regulation that introduces a harmonized data protection framework, TAS Group can claim to be at the forefront of the offering, having leveraged decades of experience in servicing the Financial Sector as well as the Public Administration with our innovative technological architectures and our proved consultancy approach addressing the evolution of infrastructure in the financial markets and payment systems. ”