Airtime Partecipazioni S.p.A. / Key word(s): Half Year Results
Airtime Partecipazioni S.p.A.: Interim Results 2021
28-Oct-2021 / 18:00 CET/CEST
Interim Results 2021
✓ Airtime Partecipazioni S.p.A. ("Airtime") was incorporated in January 2021, and consolidates the result of the Airtime Group. The IFRS accounts are therefore available for the first time, and compared with the proforma for 2020.
✓ Top line growth was mildly up at € 45.93m vs. € 40.47m (2021H1 vs. 2020H1 proforma).
✓ Gross profit surged in the first half of 2021 amounts to € 3.430m vs. € 0.784m (+338%) in the same period a year earlier.
✓ In the first 6 months, Airtime produced an EBITDA of € 2.062m vs. € 0.449m (+359%) in the first half of 2020, largely up, as previously announced.
✓ Sales and EBITDA are in line with the forecast for the year ending December 31, 2021.
Rome, October 28, 2021
The Airtime Board of Directors of October 28, 2021 approved the accounts for the first half of 2021.
For Orlando Taddeo, CEO of Airtime, "Airtime has enormous opportunities ahead. Being an innovator in the fintech industry, the Group is well-positioned to continue its growth and attract more partners that are in need of optimizing their payments and sales processes."
H1 2021 results
IFRS (data in thousands of euros)
30 June 2021
30 June 2020
as a % of revenues
as a % of revenues
Current depreciation and amortisation
Current operating income (expense)
Other non-current income and expenses
Operating income (expense)
Finance income (expense)
Net income (expense) for the financial period
Airtime Partecipazioni Spa was incorporated on January 2021. The financial information as at June 30, 2021 consists in the consolidated financial datas of Airtime Technologies Ltd (first-tier subsidiary since January 2021) and its subsidiaries.
2021 has been a year of change and challenge. The most impacting challenge was Covid-19 and during
the pandemic Airtime has remained resilient, keeping all the operations running, and connecting all the partners through its platform and technology.
H1 2021 revenue amounted to € 45.93m (vs. € 40.47m in the comparable period, or +14%) and registred a strong growth in the second quarter of the year. The growth can be attributed to a significant increase of interconnections with new carriers that led to an expansion of the network with optimal results in terms of gross margin.
EBITDA amounted to € 2.062m (vs. € 0.449m in the comparable period, or +359%) and is in line with the expectations shown in the Information document dated September 20, 2021. The important growth of the EBITDA is mostly due to the fact that the first half of 2020 was a very particular period conditioned by the general situation that reflected on this indicator.
The network handled all traffic volumes without any disruptions, proof of the quality of the infrastructure which is allowing the Group's customers to become more confident in the system and to increase both the frequency and the amount of deposits in Commsettle. The market is taking notice of Airtime's dynamism and more partners are joining the platform for secure payment transactions on customer side and supplier side.
Even though the network was carrying more traffic than ever before, Airtime continued to invest in its growth. The development team has improved the platform features to accelerate KYC and interconnections processes.
Based on the quality and leadership of his network and platform, Airtime wants to further enhance the experience of being connected, with all the accounts settled in real-time and no risk of payment bottlenecks and delays.
The financial report for the 2021 interim financial statements has been made public.
It is available on the Company's website at:
Assembly of Shareholders convened for the approval of the Annual financial report (rapport financier annuel) at December 31, 2021.
Publication of Annual financial report: April 28, 2022, after market close.
Citigate Dewe Rogerson
ABOUT Airtime Partecipazioni S.p.A.
With its unique Airtime Exchange cloud-based platform, Airtime is an advanced market marker in wholesale telecommunications services and liquidity pool, operating an all-in-one B2B voice and sms trading solution with fintech modules enabling direct bank account integration and receivables auctioning. Airtime Exchange offers real-time settlement, as well as post-trade reporting and working capital financing for all the members. Airtime was founded in 2017 by Italian telecommunications and technology entrepreneur Orlando Taddeo. Headquartered in Rome, Italy, Airtime is also present in Ireland and the United States.
Airtime is listed on Euronext Growth Paris.
For more information: https://www.airtimepartecipazioni.com/
File: Financial statement 2021-06 ENG
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