The Avaloq group, an international fintech company and specialist in integrated banking solutions, has reported continued organic top line growth, margin expansion and strong free cashflow for the first half of 2017.
The company says its results benefited from increased project activity, strong upselling into the customer base and growth in all lines of recurring revenues from a broad spectrum of customers leveraging Avaloq’s range of on premise software, Software as a Service (SaaS) and transaction processing services.
“We did an excellent job in maintaining the strong momentum from last year. In the first half of the year, we further strengthened Avaloq’s leading position. We significantly increased profitability, reduced total spending, and in Warburg Pincus have a strong new global partner at our side,” Francisco Fernandez, Group CEO and Chairman of the Board of Avaloq, says. “With such a wind in our sails, we are very well equipped to take advantage of growth opportunities.”
