SIA sees 21 percent increase on profits in 2017 14 March 2018Milan Reporter: Jenna Lomax
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Milan-based solution provider SIA S.p.A. (SIA), achieved a total revenue of €567.2 million for 2017, a 21.1 percent increase, compared to end-of-year 2016.
The 2017 financial results showed that SIA welcomed a profit of €80.1 million, a 13.8 percent increase compared to 2016.
The technology provider also saw proposed ordinary dividend of €0.35 per share, a 34.6 percent increase from 2016.
The results also found that there was growth in all electronic transactions processed. More than 6 billion operations were completed with cards, a 41.1 percent increase from 2016.
More than 3 billion payment operations were completed electronically, a 7.1 percent increase, from 2016.
The firm also reported that 13.1 billion clearing transactions were completed electronically, a 7 increase from the previous year.
Trading and post-trading transactions saw an 18.8 percent increase, ending the year at a total of 56.2 billion.
Massimo Arrighetti, CEO of SIA, said: “The 2017 results confirm the effectiveness of the strategy of growth and internationalisation pursued in recent years which has allowed SIA to consolidate its position in the field of digital payments despite highly competitive market conditions.”
He added: “We will carry on along this path through organic development of the business in Italy and abroad and by seeking out extraordinary corporate transactions in line with our growth prospects. Our objective remains to create a hi-tech infrastructure for European payments with innovative, reliable and secure services.”
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