TIE Kinetix doubles Order Intake on the back of strong demand for supply chain digitalization and e-Invoicing
Breukelen, the Netherlands – January 3, 2023 at 8 AM CEST – TIE Kinetix, a leader in 100% supply chain digitalization, announced today a record high Q1 Order Intake, achieving the strongest Q1 Order Intake (Oct 1, 2022 – Dec 31, 2022) ever in its existence with € 6 million (Q1, 2021: € 2.8 million). This unprecedented strong Q1 Order Intake follows an already very strong Order Intake in Q4, 2022 of € 5.4 million. The company historically reported around € 12-13 million Order Intake per full year (2022: € 12.9 million; 2021: € 11.3 million).
Q1 Order Intake benefitted from the close co-operation with Microsoft partners Avanade and To-Increase and includes substantial new business of around € 1.5 million (Q1, 2022: € 300k). Q1 Order Intake also includes new landmark contracts for e-Invoicing with new customer Volkswagen Financial Services AG (valued at € 450k) and an almost 100% expansion of the existing contract with Deutsche Ges. für Int. Zusammenarbeit GmbH GiZ (valued at € 1.7 million). Q1 Order Intake further benefitted from the new Customer Success teams with staff onboarded in 2022.
With a strong sales funnel TIE Kinetix considers the increased Order Intake as a fist proof of its high growth strategy, initiated in 2022. TIE Kinetix’ high growth strategy required investments and expenditures in new sales staff, customer success roles, in marketing and in the development of the indirect channel, with the goal to achieve revenue growth in 2023 and beyond.
This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives, and may be expressed in a variety of ways, such as ‘expects’, ‘projects’, ‘anticipates’, ‘intends’ or similar words. TIE Kinetix has based these forward-looking statements on its current expectations and projections about future events. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document.