Business
IQST - IQSTEL Announces Plan for $1 Billion in Annual Sales in 2027
NEW YORK, Aug. 1, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com), a US-based, multinational, fully reporting and audited publicly listed
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, Aug. 1, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com), a US-based, multinational, fully reporting and audited publicly listed telecommunications and technology company today released highlights of its plan to reach $1 billion in annual sales for FY 2027.\n\n \n \n \n \n \n \n\n \niQSTEL reported $144.5 million in revenue for FY 2023 and has forecasted $290 million for FY 2024. The company is on track to reach its revenue forecast this year. The company has a long history achieving and even surpassing its forecasts.\nUnder the direction of the company's CFO, Alvaro Quintana, iQSTEL has developed a detailed plan to grow the company's annual revenue to $1 billion for FY 2027. The plan includes a detail analysis of each subsidiary using several dynamic variables. The comprehensive plan with dynamic forecasts are being presented to investment banks and institutional investors.\nTo simplify the $1 Billion Plan, financial projections only entail the anticipated performance of the company's Enhanced Telecommunications Division. Any contributions to revenue and operating income from our Fintech, Electric Vehicle and AI-Enhanced Metaverse divisions will augment the projected $1 billion in sales.\nThe $1 Billion Plan is built primarily on the planned expansion of the company's sales that today are primarily generated from telecom services. The FY 2027 planned $1 billion in annual sales is expected to be derived from telecom services alone.\nThe plan to grow to $1 billion in annual sales consists of two major components:\na) Organic Growth: Approximately half of the $1 billion in annual revenue is expected from organic sales growth generated by existing operations.b) One Strategic Acquisition: Approximately one quarter of the $1 billion in annual revenue is expected to be achieved through acquisition. The remaining one quarter of the $1 billion in annual revenue is expected from organic sales growth, and synergies with iQSTEL generated by the acquired operations.\niQSTEL has an excellent organic growth and synergies track record. The company achieved $50 million in organic growth in FY 2023, and expects to realize $90 million in organic growth this year, FY 2024.\niQSTEL has targeted a specific acquisition opportunity with the potential to add from $200 million to $300 million in annual revenue next year. The ac...