Softline, a global IT solution and services provider with a focus on digital transformation, cloud and cybersecurity, announces key operating highlights for fiscal year ending March 31, 2021.
Softline’s turnover in 2020 fiscal year ending March 31, 2021 increased by 8.9 per cent year on year to US$1.8 billion. The largest growth in 2020 was in the segments of cloud services (47 per cent), hardware solutions (12 per cent) and software Subscriptions (5.1 per cent). These segments now represent respectively 25 per cent, 13.6 per cent and 28.9 per cent of total company turnover. 56 per cent of the total revenue was from recurring business.
In line with its global expansion strategy, Softline increased its turnover share in the markets of Eastern Europe and Central Asia, Latin America and in the APAC region. Most businesses delivered strong double-digit growth in constant currencies, adding 22 per cent or more.
Igor Borovikov, Chairman, Board of Directors, Softline Group stated, “Despite the global economic downturn in 2020, Softline has successfully adapted to the new challenges and continued to show strong growth, effectively taking advantage of the opportunities opening up for the IT industry amid the pandemic. As part of the group’s global expansion strategy, we have increased our international business share to 40 per cent through both organic growth and significant M&A transactions.”
Sergey Chernovolenko, CEO, Softline Global said, “The Covid-19 pandemic has led to significant changes in business processes for entire industries, creating additional demand for cloud services, remote work solutions, process automation and data management tools. In this context, Softline has focused on developing key services and competencies, continuing international expansion and strengthening partnerships with the world’s largest vendors.”
