NEW YORK, March 17, 2021 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST), an international provider of Telecom, Technology, Fintech and Blockchain solutions, today announced its telecommunications subsidiary, SwissLink, is moving forward on a plan to implement network interconnection in Switzerland.
The network interconnection in Switzerland will effect an operating cost reduction and improve quality of service. While Switzerland is not a member of the European Union, it still enjoys special treatment for international telecommunications traffic in Europe.
The SwissLink operations is one of iQSTEL's top gross margin contributors and the network interconnection in Switzerland is anticipated to increase its gross margin contribution.
"SwissLink holds a special place in the heart of iQSTEL because it was our first acquisition when we implemented our merger and acquisition growth strategy," said Leandro Iglesias, iQSTEL CEO. "SwissLink's continued growth adds a bit of poetry to our business and inspires our imagination for an overall bigger and brighter future."
iQSTEL Year-To-Date (YTD) revenue through the end of February 2021 is $9.65 million compared to $3.53 million for the same period in 2020 – a 273% increase.
The iQSTEL revenue forecast for 2021 is $60.5 million. In addition to the dramatic revenue growth, Management anticipates improved profit margins as iQSTEL consolidates its Telecom subsidiaries under a single brand name to improve marketing momentum and operating efficiencies.
Management further indicates the potential to exceed the current revenue forecast as a result of potential contributions form the company's other growing, high margin business units including its Technology Division (IoT and Batteries for EV), Fintech Division (Visa Debit Card), Blockchain Division (MNPA).
About iQSTEL Inc.:
iQSTEL Inc (OTC: IQST) (www.iQSTEL.com) is a US-based publicly-listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries. The company provides services to the Telecommunications, Electric Vehicle (EV), Liquid Fuel Distribution, Chemical and Financial Services Industries. iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas Platform, IoT Smart Tank Platform, Visa Debit Card, Money Remittance, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform).
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SOURCE iQSTEL, Inc.