It also said its net profit skyrocketed by 213% on the year to RON3.4 million in 2021.
The largest share in the company’s turnover was held by the telecommunications business line, which generated 58.86% of this result, followed by Insurance, which brought 30.95% of the revenue.
The gross result also materialized in a profit of RON3.84 million, 204.82% higher compared to RON1.26 million reported in 2020.
In 2021, the company improved other important financial indicators, increasing its assets by more than 500% and registering significant improvements in liquidity.
“2021 was the first year proving the materialization of our accelerated development strategy, and the results show us that our business decisions have the power to bring immediate value, at least to the promised level, and to healthily grow the company’s foundation, an approach we consider on the long term. In addition to LIH’s results, Innobyte and Performia Finance, companies in which we have holdings, also recorded performances, in terms of revenue – both with increases of over 20% – and in terms of profit”, Catalin Chis, Chairman of the Board of LIFE IS HARD, said in a statement on Thursday.
In 2021, LIH shares reached two maximum points, of RON13.8 per share and RON13.15 per share, respectively, and the number of LIH shareholders increased significantly to 1024 from 536 shareholders at the end of 2020.
In 2022, the company continues its campaign to attract partners and aims to acquire new technology companies with complementary skills. For the period 2021-2022, LIFE IS HARD has announced its intention to invest EUR10 million in this endeavor, the statement reads.