Jan 25 (Reuters) - Spanish telecom firm Lleida.net said on Monday its 2020 results were the best in its 25-year history, after COVID-19 lockdowns boosted its digital signature business.
The Madrid-listed small cap firm said preliminary sales in its software-as-a-service line more than doubled in the fourth quarter, and rose 59% in the full year, as widespread remote working since the beginning of the pandemic boosted demand for its digital signature services.
Lleida.net offers secure services that can be used as legal evidence, such as certified text messages or emails.
“Despite the catastrophic situation caused by COVID-19, the company’s performance was the best in its history,” CEO and founder Sisco Sapena said in a statement. “2020 represented a before and after for the digital signature industry and also for Lleida.net.”
Lleida.net’s market capitalization grew five-fold in 2020, starting from a modest 16 million euros ($19.42 million) in January and finishing the year close to 100 million euros ($121.40 million), according to Refinitiv Eikon data.
The company said its full-year sales rose 20% to 16.4 million euros compared to the same period in 2019. Profit before interest, taxes, depreciation and amortization was up 17% to 2.6 million euros. ($1 = 0.8237 euros) (Reporting by Anita Kobylinska, Editing by Inti Landauro and Susan Fenton)