•    Hitit Computer Services (HTTBT), Turkey's first air travel technology exporter and one of the world's leading airline and travel technology companies, closed the third quarter of 2022 with a year-to-date sales revenue of 13 million dollars and an EBITDA margin of 40%. 
•    Increasing the number of Partners to 62 as of the third quarter, Hitit signed service agreements with 14 new Partners so far in 2022, breaking its own annual sales performance record. 

Hitit (HTTBT), Turkey's largest service exporter in the field of airline and travel technologies, continues its steady growth in the world. As of the third quarter of 2022, Hitit broke its own annual sales performance record and surpassed its pre-pandemic figures. The company increased its sales revenues by 28% compared to the same period of the previous year, reaching 13 million dollars year-to-date. Hitit's boarded passenger numbers, which are the basis of its mainline Software as a Service (SaaS) recurring revenues, increased by 41% compared to the same period of the previous year. This increase was driven not only by newly acquired Partners but also by the increase in business volumes of existing Partners. In parallel, the company's EBITDA margin reached 40%, 2 % above the pre-pandemic third quarter of 2019. 

Nevra Onursal Karaağaç: As a result of the growth strategy abroad, 85% of total revenues were realized in foreign currency and 15% in Turkish Liras 

Providing information about Hitit's third quarter developments, Nevra Onursal Karaağaç, CMO at Hitit, stated that 85% of total revenues were realized in foreign currency and only 15% in TL, specifically as a result of the growth strategy abroad, and said, "As Hitit, we left behind a quarter in which we continued to take our technology all over the world. The fact that airlines and other travel companies wanted to strengthen their technologies during the pandemic period and put digital transformation at the top of their agenda in order to adapt quickly to the regulations and innovations in the airline and travel industries, enabled Hitit to increase its sales even in this challenging period. We have become the shining star of the market with the advanced technological capabilities and cost advantages of our software solutions. We closely follow the most important national and international events related to air travel and continue to introduce Hitit to the whole world. Our goals are immense; we are moving rapidly towards our targets with our qualified workforce, strong financial position, and the support from our investors.

We achieved a new success with the agreements signed in 2022.

Karaagac said: "In the coming period, we will continue our investments to realize our goals, as well as keep improving our solution and service development, and sales and marketing activities, in line with our growth strategy. In the third quarter of 2022, we already broke our historical record for the number of newly acquired Partners in a given year."

The secret of success is employees with seniority above the sector average.

Noting that Hitit's number of employees reached 353 as of the third quarter of 2022, Karaagac stated that one of the largest contributors to their success is their long-term and senior IT professionals. Karaagac said, "According to LinkedIn data for 2021, while the average seniority of IT employees was 2.7 years, this figure stands at 4.7 years for Hitit employees. Thanks to this above industry average employee seniority and loyalty, coupled with our high levels employee satisfaction and experienced management staff, we ensure the preservation of hard-won expertise, industrial know-how and developed best practices. This brings sustainable success. We are also proud to outperform our peers with our 35% female employee ratio."

Sezer Ozmutlu: We are realizing our targeted investments.

Sezer Ozmutlu, CFO at Hitit, stated that the share of Hitit's foreign revenues in total turnover increased to 68% at the end of the third quarter, and that 85% of total revenues were in foreign currency. Thus, as of the end of the third quarter, the total amount of cash and cash equivalents together with the IPO funds reached 22.6 million dollars, Ozmutlu continued and gave the following information about Hitit's investments in this period: "As of the end of the third quarter, we invested $4.4 million in R&D and $1.3 million in licenses, hardware and fixtures in connection with the projects carried out within the framework of the Teknokent legislation. Following the agreement signed with Tazi Information Technologies, which operates in artificial intelligence and machine learning, our TAZI Artificial Intelligence Platform was established. In this project, three areas were identified: Better customer experience, operational excellence and revenue-enhancing activities. Work began on weather and delay forecasting, dynamic pricing and personalization. Crane solutions, whose technological capabilities will further increase with TAZI's easy-to-use and fast-action platform, will reduce the operational costs of Hitit's partner airlines while increasing their revenues. In addition, we continue our efforts to increase cooperation with the world's leading cloud infrastructure providers."