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Constellation Software Inc. and Topicus.Com Inc. Announce Results for the TSS Operating Group for the Fourth Quarter Ended and Year Ended December 31 , 2020 TORONTO , Feb. 10 , 2021 ( GLOBE NEWSWIRE ) -- Topicus.com Inc. ( TSXV : TOI ) in a joint release with Constellation Software Inc. ( TSX : CSU ) today announced financial results for the TSS Operating Group for the fourth quarter and year ended December 31 , 2020. Please note that all amounts referred to in this press release are in Euros unless otherwise stated . The following press release should be read in conjunction with the Annual Consolidated Financial Statements of Constellation Software Netherlands Holding Cooperatief U.A. ( the " Coop " or the " Company " ) for the year ended December 31 , 2020 , which we prepared in accordance with International Financial Reporting Standards ( " IFRS " ) and the Company's annual Management's Discussion and Analysis for the year ended December 31 , 2020 , which can be found on SEDAR at www.sedar.com and on Topicus.com Inc.'s website www.topicus.com . Additional information about Topicus.com Inc. is also available on SEDAR at www.sedar.com . The information presented is based on the historical financial performance of the Coop , as predecessor to Topicus.com Inc. ( " Topicus " ) , and does not take into account the transactions described under " Subsequent Events " . Our board continues to be humbled by the Company's employees who are embracing the continued disruption caused by COVID - 19 , as they support each other and focus on creating value and stronger relationships with our customers . Q4 2020 Headlines : • Revenue grew 18 % ( 3 % organic growth ) to € 137.4 million compared to € 116.9 million in Q4 2019 . • Net income increased 15 % to € 12.9 million ( € 0.22 on a diluted per unit basis ) from € 11.2 million ( € 0.19 on a diluted per unit basis ) in Q4 2019 . • A number of acquisitions were completed for aggregate cash consideration of € 39.0 million ( which includes acquired cash ) . Deferred payments associated with these acquisitions have an estimated value of € 7.0 million resulting in total consideration of € 46.0 million . • Cash flows from operations ( " CFO " ) were € 30.3 million , an increase of 59 % , or € 11.2 million , compared to € 19.1 million for the comparable period in 2019 . • Free cash flow available to shareholders ' ( " FCFA2S " ) increased € 11.4 million to € 23.9 million compared to € 12.5 million for the same period in 2019 . 2020 Headlines : • Revenue grew 18 % ( 2 % organic growth ) to € 494.0 million compared to € 417.4 million in 2019 . • Net income increased 37 % to € 63.7 million ( € 1.08 on a diluted per unit basis ) from € 46.5 million ( € 0.76 on a diluted per unit basis ) in 2019 . • A number of acquisitions were completed for aggregate cash consideration of € 85.4 million ( which includes acquired cash ) . Deferred payments associated with these acquisitions have an estimated value of € 15.8 million resulting in total consideration of € 101.2 million . • Cash flows from operations ( " CFO " ) were € 151.9 million , an increase of 25 % , or € 30.5 million , compared to € 121.4 million for the comparable period in 2019 . • Free cash flow available to shareholders ' ( " FCFA2S " ) increased € 26.7 million to € 130.1 million compared to € 103.4 million for the same period in 2019 . 1. See Non - IFRS measures . Total revenue for the quarter ended December 31 , 2020 was € 137.4 million , an increase of 18 % , or € 20.5 million , compared to € 116.9 million for the comparable period in 2019. For the 2020 fiscal year total revenues were € 494.0 million , an increase of 18 % , or € 76.6 million , compared to € 417.4 million for the 2019 fiscal year . The increase for both the three and twelve month periods compared to the same periods in the prior year is primarily attributable to growth from acquisitions as the Company experienced organic growth of 3 % and 2 % respectively . Net income for the quarter ended December 31 , 2020 was € 12.9 million compared to net income of € 11.2 million for the same period in 2019. On a per unit basis , this translated into a net income per diluted unit of € 0.22 in the quarter ended December 31 , 2020 compared to net income per diluted unit of € 0.19 for the same period in 2019. For the fiscal year ended December 31 , 2020 , net income was € 63.7 million or € 1.08 per diluted unit compared to € 46.5 million or € 0.76 per diluted unit for the 2019 fiscal year . Diluted units outstanding decreased from 61.4 million to 59.1 million for the fiscal year ended December 31 , 2020 . For the quarter ended December 31 , 2020 , CFO increased € 11.2 million to € 30.3 million compared to € 19.1 million for the same period in 2019 representing an increase of 59 % . For the fiscal year ended December 31 , 2020 , CFO increased € 30.5 million to € 151.9 million compared to € 121.4 million for the 2019 fiscal year representing an increase of 25 % . For the quarter ended December 31 , 2020 , FCFA2S increased € 11.4 million to € 23.9 million compared to € 12.5 million for the