Construction BUSINESS

Zutec Holdings Increases Turnover by 40%

 Breaking News
  • National Construction Summit -Thursday 14th March 2019 – Citywest Exhibition Centre, Dublin The fifth National Construction Summit will be held on Thursday, 14th March 2019 at the Citywest Exhibition Centre in Dublin. Incorporating a number of complementary events and an extensive array of seminars, workshops and exhibition stands, showcasing the latest products, services and technology for the construction, engineering, sustainable building, maintenance and architectural sectors, the 2019 National [...]...
  • Komatsu WA100M Loader Hits Ireland Komatsu’s latest version of the WA100M Dash 8 compact wheel loader has gone on sale in Ireland. Described by distributor McHale Plant Sales director, John O’Brien as “one of the most reliable and versatile machines out there,” the WA100M is being pitched at construction, farm contractors, bulk materials and waste processors. The 94hp EU Stage IV unit [...]...
  • Planning Approval For North South Interconnector EirGrid has welcomed the decision by the Supreme Court to uphold planning approval for the southern section of the North South Interconnector. Planning approval for the project was granted by An Bord Pleanála in December 2016. This was subsequently made the subject of judicial review proceedings in the High Court. The proceedings were dismissed by the High [...]...
  • McAleer & Rushe Commences Construction on London Development Northern Ireland-based developer and contractor McAleer & Rushe has announced that construction is to commence on a new 620 room hotel and hybrid aparthotel development in Paddington, London with a contract value worth c.£82 million. Led by developer Concierge 3, a consortium of BSW Land & Property, Staycity and The Pickstock Group, the scheme is the final stage of the [...]...
  • ESB and Coillte in Discussions to Deliver Renewable Energy Projects ESB is engaged in bilateral discussions with Coillte which, if successful, would lead to the establishment of a new joint venture development company to deliver 1,000 MW of renewable energy by 2030. It is proposed that a new joint venture will build on a successful track record of the two companies working together at Raheenleagh [...]...

Zutec Holdings Increases Turnover by 40%

Zutec Holdings Increases Turnover by 40%
October 03
09:19 2018

Zutec Holdings, the Irish construction software company which listed on the Nasdaq First North market in March this year, has reported a 40% increase in turnover to €3.25 million in the year to the end of June 2018.

In its maiden set of full-year results as a plc, Zutec generated earnings before interest, tax, depreciation and amortisation (EBITDA) of €623,000. Zutec ended the year with net cash of €3.3 million and according to Chief Executive, Brendan O’Riordan is well set to grow the business in the coming years.

“We are delighted with these first set of full-year results as a plc and the proceeds of the IPO in March, together with the organic growth in the business, puts us in a strong position to grow the business given that the global construction industry is currently growing at an annual rate of 3%. We are also currently working on a new product offering which we believe will revolutionise communications between the design and construction elements of the industry.

“We already have contracted sales totaling more than €6.5 million ahead to 2021, and that is a 6% growth in our contracted sales on the previous quarter.  It’s also a testament to our product offering that recurring revenues account for some 15% of our total revenue.”

Brendan O’Riordan added that Zutec is currently implementing a new approach to sales. “Historically we have focused on large projects and clients but we now believe that the more individuals we have using our software the easier it will be to win large contracts with the added benefit of much higher revenues from increased user numbers. That is being reflected in the 38% growth in users of our software in the past year. ”

“Instead of focusing solely on main contractors or the client for our business who are only two elements of a very large chain which also includes architects, engineers and other design consultants as well as anything from 20 to 100 sub-contractors working to the main contractor.

“Over the past 12 months in Ireland we have been working with small design and construction firms to provide solutions for their business and we now intend to roll out this locally proved sales model in all our sales channels around the world. So instead of having one large license on a project we could have multiple companies paying us smaller licenses resulting in a massive uplift in revenue per project,” he said.

Zutec has established strong potential business in the US construction market and is also looking to expand into the Canadian market.

About Author

admin

admin

Related Articles


Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements