Adjusted Revenues continue to increase to Euro 77.1 million (+46.8%) driven by organic growth (+12%) due to the extension of contracts and the acquisition of new clients and the contribution of the German companies MyLoc, Mivitec and Gecko Boreus .Consolidated adjusted EBITDA of Euro 29.5 million (Euro 18.3 million in 2020), +61.2% compared to 2020 thanks to the concentration in Cloud services, the level of optimisation achieved in the organisation of processes and operational services, cost synergies and the continuous improvement of the margin of the acquired companies; margin on revenues increasing to 38.3%. Adjusted net profit equal to Euro 9.3 million, up +52.2%.
Pro forma adjusted consolidated revenues of Euro 51.1 million (49.7% of the Group's revenues), a significant increase compared to the previous year, driven by organic growth of approximately + 12%, characterized by the focus on higher added value and increasing cross selling to the customers of the acquired companies. Consolidated Pro forma Adjusted EBITDA 2021 up to Euro 18.1 million (49.3% of the Group's EBITDA), with a margin on revenues of 35.4%. As of December 31, 2021, the WIIT margin was 42.6% substantially in line with that of the previous year, while the Adelante margin improved from 21.1% in 2020 to 22.9% in 2021. The margin of Matika settled at 30.1% from 27.2% of the previous year, that of Etaeria SpA ("Etaeria") to 25.4% from 19.5% in 2020.
Consolidated Adjusted proforma Revenues (including in the perimeter Mivitec, Gecko and Boreus from January 1st 2021) of Euro 51.8 million (50.3% of the Group revenues) in significant growth; increase driven by organic growth characterized by focus on higher value-added services and increasing cross-selling. Adjusted proforma EBITDA of 18.6 million (50.7% of the Group's EBITDA) with a margin on revenues of 35,9%. myLoc EBITDA margin at 47.2% in 2021 growing from 43.9% in 2020. 2021 proforma data related to Mivitec: - Revenues equal to Euro 3.9 million; - Adjusted EBITDA equal to Euro 0.4 million, with a margin on revenues of 9.5%; - 2021 pro forma data related to Gecko and Boreus: - Revenues equal to Euro 28.8 million; - Adjusted EBITDA equal to Euro 9.2 million, with a margin on revenues of 32.1%.