cBrain has just concluded the largest single agreement to date in the company's history.
The deal, which is a double-digit million, was signed in Germany. This is in addition to an existing customer and it is expected that the agreement will further expand the organization in cBrain's German department.
In the latest quarterly announcement, cBrain mentioned that it has managed to get in to one of the major authorities in the German central administration. cBrain delivers professional systems to the customer, which are configured and set up based on cBrain's F2 standard software. cBrain also stated that the authority, which has branches in all German states, represents a great potential for further sales and deliveries.
It is therefore extremely gratifying for cBrain to now be able to announce the new order.
In continuation of the COVID-19 pandemic, F2 has proved to be an extremely effective and robust digital platform for the work of the authorities. Those of the authorities’ departments that work based on F2 have had the ease of continuing the work virtually under lock down. At the same time, cBrain's team in Berlin has managed to both support operations and ensure continued delivery under the new conditions, including for example virtual-based workshops and teaching.
It is not least on this basis that the authority has now decided to further expand the use of F2 in one of its departments.
At the same time, through continued successful implementation of F2, cBrain hopes to be able to be awarded additional orders with the authority.
In the past, the public sector has been in particular demand for digitization in order to improve productivity, quality and citizen services. But as a result of the COVID-19 crisis, cBrain is now seeing how digitization is increasingly being seen as an important infrastructure that can ensure the robustness of the authorities.
It is therefore cBrain's assessment that the COVID-19 crisis does not reduce the need for digitization in the public sector, but rather will increase demand. As a result, as stated in the quarterly announcement, cBrain maintains its international growth plan.
cBrain is off to a good start in 2020 and has so far not been affected by COVID-19. cBrain therefore, as stated in the quarterly announcement, maintains its previously announced expectations for 2020 with expected revenue growth of 12-15% and earnings before tax (EBT) of 7-10%.
The order in Germany is important for cBrain. It strengthens the company's order book and stated expectations, while supporting the growth plan and the international ambitions.