November 17, 2017 at 01:15 am
Manila Standard Business
Publicly listed I.T. firm, DFNN Inc. continued its robust financial performance for the first nine months of 2017, with revenues of P848.5 million, 616.0% higher than the P118.5million reported in the same period of 2016.
DFNN’s EBITDA reached P142.8 million, up 668.9% from the same period in 2016. Total operating expenses grew by 382.2% year-on-year to reach P711.8 million from P147.6 million last year. Additionally, the Company reported a net income of P121.3 million—a surge of 15,062.5% from the P0.8 million disclosed in the first three quarters of 2016.
The increased expenses are largely due to the continued expansion activities such as the build-out of the DFNNTechnology Campus in Silang, Cavite. The facility hosts DFNN’s customer service, technical support, I.T. and development teams. Several more satellite offices are slated for construction in Cebu City and New Clark City in 2018.
Similar to DFNN’s first-half results in 2017, the notable improvements are attributed to the Company’s increased platform affiliates. Affiliated sites that use the Company’s technology platform increased by 158.6%, from this time last year, while the number of terminals using its gaming products increased by 389.9%.
“We take pride in our performance for the first nine months of the year and with the steady growth of DFNN’s affiliate partners.” DFNN CEO, Ramon C. Garcia, Jr. stated. “Given our continued focus on improving operating efficiencies and distribution numbers, we expect to maintain this upward trajectory and to improve our operating margins.”