Madrid, April 2023. Substrate AI, the Spanish artificial intelligence company listed on the BME Growth, celebrates this Thursday in London its Investor Day in which it presents its outlook for 2024 and its strategic plan for the years ahead.
The figures for 2024 presented highlight the company's entry into positive EBITDA of 4 million euros and a net profit of 1 million euros after several years of strong investments in which it has grown by more than 1,600% in revenues.
Over the next few years, the company expects to maintain high growth and carry out three IPOs of some of its investees, namely Subgen AI, its technology subsidiary, which recently presented its Serenity Star ecosystem and is currently involved in a 10 million euro investment round led by the American investment bank GT Securities, Cuarta dimensión médica, its health sector subsidiary, and Fleebe AI, its human resources sector subsidiary, in addition to building a data center to provide AI services to its clients with an expected investment of around 100 million euros, "AI infrastructure is vital for the development of the LLMs we have in place and to be able to offer our clients secure services in which operations are carried out in their territory, reducing security issues, something totally necessary for AI to really scale in society. Therefore, we are studying all the financing possibilities we have available to build in Spain this necessary infrastructure to provide service to the users of our LLMs and our Saas Serenity Star in a secure and predictable way." notes José Iván García, CEO of Substrate AI.
The company also expects to invest around €20 million in the period 2024-2028 in new acquisitions of companies that can be powered by artificial intelligence on the basis that they are cash-generating businesses in which artificial intelligence can provide a significant competitive advantage.
Substrate AI was listed on BME Growth in May 2022 as the first Artificial Intelligence company to be listed in Spain and operates as a holding of companies that sell, apply and develop Artificial Intelligence in their sectors with a focus on creating efficiencies that drive the economy on its path towards sustainability and emission neutrality. The companies that make up the Substrate AI portfolio develop and sell Artificial Intelligence solutions in sectors such as Generative AI, Healthcare, Agritech, Fintech, Human Resources and Energy.
The company has also enhanced its international presence with dual listings in London and the US, bringing it closer to new investors and clients.
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