ATP Software and Technology Inc. (ATP) exceeded expectations by growing 136 percent in the third quarter, while the company’s revenue for the first 9 months of the year reached 712.6 million TL, showing a year-on-year increase of 115 percent. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 134 percent, reaching 183.7 million TL, and the net profit also saw a rise of 113 percent, reaching 181.7 million TL during the same period.
The results for the third quarter and the 9 months were shared through a statement from the company. According to the statement, ATP’s revenue for the first 9 months of the year reached 712.6 million TL, reflecting a year-on-year increase of 115 percent. The EBITDA increased by 134 percent, reaching 183.7 million TL, and the net profit rose by 113 percent, reaching 181.7 million TL.
ATP CEO Ümit Cinali, expressing his views in the statement, indicated that the company has achieved growth beyond the previously shared forecasts and mentioned:
“Compared to the same period last year, we are in a financially and strategically stronger position. We are pleased with the successful results we achieved in the third quarter and the first 9 months of 2023. With our diversified business model, we exceeded expectations. The rapidly growing capital markets in our country, the accelerating digital transformation of the hospitality sector, and our operations in China, where we have left the pandemic behind, contributed to our success. We continued to invest in ventures that boost our global initiatives. We generated 33.2% of our revenues from international markets.
In the third quarter, we made progress in our new solutions with significant potential. We implemented King’s Journey, a new customer service model for Burger King that includes ordering digitally and table service. Following the global certification process, our solution will be marketed worldwide. We introduced our green energy certificate marketplace initiative, ATP GreenX, to potential customers, and we aim to launch our platform before the end of the year. Our kiosk solutions, announced in the first half of the year, produced positive results in operational efficiency and increased revenue for our customers. In the third quarter, we significantly increased the number of kiosks in the field.”
Cinali also announced that ATP’s venture capital investments (Capital) in Ata Express have reached 5.3 million members, and the infrastructure developments to increase the brand count have been completed. Tests are set to begin soon.
According to the information provided, as the year-end approaches, ATP, based on the performance increase and market conditions, has revised its 2023 year-end revenue and EBITDA annual growth estimates to 100 percent.