Group turnover in 2020 at EUR 77.4 million. Group EBIT 2020 positive at around EUR 1.1 million.

Press contact: Helgrid Jenne

Die SEVEN PRINCIPLES AG (7P), SEVEN PRINCIPLES AG (7P), a German IT consulting and service company with a focus on the digitalisation of business processes, achieved its turnaround target in the 2020 financial year despite the negative impact of the pandemic and is cautiously optimistic about the 2021 financial year.

Group revenue fell by 14.5% to EUR 77.4 million due to the consolidation strategy initiated in 2019 and, from Q2 2020, due to additional influences of the pandemic (2019: EUR 90.5 million). At the same time, however, as the cost of goods sold increased even more strongly by 22.8% to EUR 34.1 million (2019: EUR 44.1 million) the company’s own value-added share of turnover increased. This effect was complemented by a comprehensive cost programme, enabling the operational turnaround in 2020: With a Group EBITDA of EUR 2,268 thousand (2019: EUR -2,281 thousand) and Group EBIT of EUR 1,098 thousand (2019: EUR -3,386 thousand), earnings expectations were exceeded despite the pandemic.

In 2020, to prepare the structural development of the company, the planned reorganisation of 7P into a group with three operating subsidiaries was also successfully completed. The newly established units Seven Principles Solutions & Consulting GmbH, the Seven Principles Mobility GmbH and intomarkets GmbH are each pursuing specific business field strategies in the new year. For the Group, despite persistently subdued project demand caused in part by the pandemic, a further increase in EBIT is expected in 2021.