TRIESTE – Circle closed the first nine months of 2025 with a sharp increase in production value, marking an acceleration that is continuing into the fourth quarter.
The figure reached €18.2 million, up 80% compared to the same period in 2024. Revenue from proprietary software rose to €6.2 million (+129%), while Milos® federation services climbed to €2 million, more than doubling year-on-year.
The group’s multi-year backlog continues to expand and stood at €33.4 million as of 30 September, with visibility through 2026 and an increase from the €31 million recorded in June.
According to Chairman and CEO Luca Abatello, the quarterly results confirm the strength of the path undertaken. Projects linked to the PNRR Login Business — completed on 17 September — played a central role, with more than 90 initiatives between those signed and under discussion, two-thirds of which involve new clients. Developments in the MILOS® suite, as well as in KMaster, InfobluNewGen and MasterSped, are generating interest and initial concrete applications already in the fourth quarter.
Abatello also notes that the new Infrastructure Decree is creating further demand in logistics hubs — demand that Circle aims to meet with the new MILOS 9.0 WINWIN. Meanwhile, the market is opening up opportunities for alliances and M&A, driven by the need for more integrated solutions for intermodal logistics.
In January, Circle Group — which already manages Sinfomar, the digital system for the ports of Trieste and Monfalcone — won a tender issued by the Port Authority, becoming the private partner of the newly established PCS Newco srl. It is a mixed-ownership company and currently the only example in Italian ports dedicated to the development and management of digitalisation services for an Authority.
