Almawave - revenues up 2024

Almawave today approved the 2024 separate financial statements and consolidated financial statements, which report a net profit of Euro 8.5 million, a 17.4% margin on revenues of Euro 49 million.

Chief Executive Officer, Valeria Sandei, commented: "2024 was a year of major strategic evolution, transformation and targeted growth. With the launch of Velvet, we proved our capacity to deliver "core" Artificial Intelligence through leveraging our expertise and capacity. We have built singular assets which today reset our competitive positioning and are recognised by partners and customers in a market with massive potential. All this, integrating and building upon our investments to date, continues to diversify our market presence and revenue mix, while also maintaining excellent margins within an extremely challenging investment backdrop".

Sandei adds: "Thanks to this trajectory, Almawave is now a benchmark in the field of Artificial Intelligence, with recent major strategic partnerships and new partners on board, confirming the value of our technologies and solutions. The performances and ongoing actions indicate a desire to consolidate this role, not just as aggregators or users of technology, but as true producers of Artificial Intelligence and advanced vertical solutions".