Artificial Intelligence has been the “trendiest” issue in stock markets around the world for a few months now, as investors get delirious every time they hear about “AI”.
In this climate, Quality & Reliability (Q&R) is registering the sixth best performance, recording a change that reaches +30% in 2024 but also +52% in the last quarter.
The AI frenzy is therefore giving a noticeable boost to Q&R, the small IT and software company, which was founded 32 years ago and has been a member of the stock market since 2000.
The capitalization of the listed company stands at 22.5 million euros, with the share price exceeding 0.82 euros, for the first time since 2008. According to estimates, the rally will probably be continued.
The contracts for the first AI projects, with the digitization of the diplomatic archive of the Ministry of Foreign Affairs, are expected to “grow” its turnover by 9.9 million euros.
This is the largest project in the history of the company. The effect of the specific project on its balance sheet is reflected on the turnover which amounted to 6.45 million euros in 2022, with EBITDA at 1 million euros.
The foundations for the development of Q&R, which is slowly preparing to change level, were laid in 2022, when the collaboration with the US “giant” IBM started, which has now also expanded into the field of AI.
