February 21, 2012

The financial year ending 31 December brought record growth for Webmedia Group, fuelled by successful expansion on the Finnish market and significant organic growth from existing business segments.

Group consolidated revenue grew more than twice to EUR 33.9 million and consolidated EBITDA grew by 75% to EUR 4.1 million. The total combined revenue for the group exceeded EUR 42 million.

“Despite the general difficult economic situation in Europe, Webmedia Group had a great year. We managed to organically grow our existing business by a third and we can already consider the merger with CCC Corporation a success,” says Priit Alamäe, Founder and CEO of Webmedia Group.

Significant expansion was seen in the customer base of the company in 2011. In Estonia Webmedia Group has strengthened its position as the largest development company. In Lithuania new customers from the financial and public sectors have chosen Webmedia as a core supplier. The first major projects have been started in Russia in the financial services sector and in Oman in the public sector. The first implementation of the Webmedia Public Finance Management Suite in Africa is under way.

Priit Alamäe adds, “The continued trust of our customers is the greatest compliment to us and our people. We see that our expanded customer offering will help us grow in the coming years as well, and will continue to strive to be a preferred employer on all our markets“.

Founded in 2000, Webmedia Group is a leading international software solutions delivery company with customers in over 15 countries. Webmedia solutions are used by the most demanding customers in telecom, finance, industry, materials management, logistics, healthcare and public sectors. The company employs over 650 specialists, including permanent subcontractors.