EasyVista’s strong fundamentals during post-pandemic economic landscape play a role in conserving profitability
NEW YORK–(BUSINESS WIRE)–#DigitalWorkplace—EasyVista, a major IT Service Management player in Europe and the United States, recently announced company results for the first half of 2020. Impacted by the Covid-19 pandemic, EasyVista generated revenue of €19.9 million, down 13% compared with the same period of 2019, and net profit shows a margin of 4% of revenue, compared to 11% of revenue in the first half of 2019.
Notably, EasyVista’s North America division grew by 5% in the first half of 2020 compared to the same time period in 2019, and increased profitability by 8% in the first half, year-over-year.
“The adjustment of our expenses enabled us, despite the decrease in activity, to conserve a significant profitability,” said Sylvain Gauthier, co-founder and CEO of EasyVista. “Our fundamentals, i.e. the high proportion of recurring revenue, the relevance of our technological offer with the process digitalization trend and, lastly, the company’s financial solidity, enable us to have a solid resilience profile while ruling out the hypothesis of a fixed cost structure adaption plan.”
Gauthier continues, “Our longer-term ambitions remain intact, driven by the strengthening of the market’s structural drivers, following the pandemic, and by the undeniable advantages offered by our products, rewarded by Gartner year after year for their rapid return on investment and their ease of use. However, this period of uncertainty is leading us to adopt a more cautious development strategy.”
In spite of the difficult post-pandemic economic context, EasyVista has signed a number of structuring new contracts, notably in the public sector with the Auvergne-Rhône-Alpes region in France. Additionally, in the United States, EasyVista signed Rady Children’s Hospital in San Diego and Wake Technical Community College, one of North Carolina’s largest university groups with more than 70,000 students.
In the private sector, EasyVista has distinguished itself by signing FranFinance, Societe Generale’s consumer credit subsidiary, and the Matmut insurance company in France. In Southern Europe, the Group has signed a contract with Italian group Pellegrini, a major player in the global mass catering sector, employing more than 7,000 people. Across the Atlantic in the United States, EasyVista now supplies its solution to Coretelligent. Additionally, in the United States, EasyVista acquired an Am Law 200 commercial law firm which replaced ServiceNow for their ITSM needs.
EasyVista previously announced the public offer of Eurazeo PME and other members of the above-mentioned concert – subject to it acquiring a controlling block in EasyVista – which should take place during the fourth quarter of 2020. For more details on the operation, see the press release dated July 23, 2020, announcing the kickoff of exclusive negotiations between Eurazeo PME and shareholders and holders of convertible bonds.
Going forward, Easyvista anticipates a decrease in its 2020 revenue compared to 2019. However, the company expects to remain resilient and looks forward to EV Connect 2020 events in the fall. EV Connect 2020 is devoted to current and prospective customers and will take place on a virtual platform to host guests from around the globe to share important product updates, training sessions, and discussions.
For more information about how EasyVista is transforming IT service in enterprises today, please visit www.easyvista.com.
EasyVista is a global software provider of intelligent service automation solutions for enterprise service management and self-help. Leveraging the power of ITSM, Self-Help, AI, and Micro Apps to create customer-focused service experiences, EasyVista has helped companies improve employee productivity, reduce operating costs, and increase customer satisfaction. Today, EasyVista helps over 1,500+ enterprises around the world to accelerate change, empowering leaders to better serve their employees and customers across financial services, healthcare, education, manufacturing and other industries.