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Proactis SA announcement January 2025
Globenewswire· 2025-10-08 16:35
Core Viewpoint - Proactis SA reported a significant decline in revenue and net loss for the year ended 31 January 2025, primarily due to non-renewal of client contracts and ongoing challenges in the business environment [2][5][7]. Financial Performance - Revenue for the year ended 31 January 2025 was €9.3 million, down 18% from €11.4 million in the previous year [5][7]. - The net loss for the year was €1.1 million, a substantial improvement from a net loss of €15.7 million in the previous year [5][7]. - Closing cash at the balance sheet date was €1.1 million, an increase from €0.6 million in the previous year [5]. Revenue Breakdown - Operating revenue was reported at €5.5 million, down from €6.9 million the previous year [7]. - Group management fees contributed €3.8 million to total revenue, compared to €4.5 million in the prior year [7]. - The company experienced a loss of €1,095k in revenue due to customer attrition, despite gaining €51k from new or increased contracts [8]. Impairment and Expenses - Proactis SA recorded an impairment of €0.6 million on intercompany receivables, bringing the total impairment to €11.5 million [10]. - The company anticipates a 20% reduction in headcount, aiming for an annualized cost saving of approximately €1 million [11]. Cash Flow and Investment - The Group generated cash of €0.5 million, but had a net cash outflow of €1.1 million when excluding related party receipts [12]. - Capital investment remained strong at €1.5 million, focusing on the strategic solution suite, The Business Network [13].