Infovide-Matrix S.A. - acquisition planned in 4Q2007
(November 12, 2007)
Company’s financial results after 3 quarters of 2007.
Consolidated revenues from the sale of the Infovide-Matrix Capital Group during Q3 2007 amounted to PLN 47.2 million. The Company recorded profit of PLN 6.5 million on operating activities. The net profit of PLN 5.2 million obtained during the third quarter of this year is higher by nearly 35% than the pro-forma profit obtained during the third quarter of 2006.
”Utilizing the potential of a merged company, in each subsequent quarter, Infovide-Matrix was gaining better and better financial results and strengthening its market position... We reached high quarterly operating profitability at the level of 13.8%, which results from the increased share of services in sales to 79% (during the third quarter). In addition, profitability of services increased and operating performance of the entire Capital Group improved.” – says Marek Kobiałka, President of the Management Board of Infovide-Matrix.
Cumulatively, sales of services (67% of the revenues), including 49% sales of services to the telecommunication sector, and 17% to the banking and finance sector, had the highest share in the revenues obtained by Infovide-Matrix CG following the three quarters of 2007. After the three quarters of 2007, consolidated sales revenues of Infovide-Matrix CG amounted to PLN 143.5 million, and the net profit was PLN 9.1 million. The revenues obtained are 17% higher compared with the pro-forma revenues of the same period of the last year.
Key items of the consolidated financial results for 3 quarters of 2007, cumulatively (in PLN million):
|
|
First 3 quarters 2007 |
First 3 quarters 2006 (pro-forma)
|
Change |
| Sales |
143.54 |
122.87 |
+16,9% |
| Operating profit |
11.72 |
11.04 |
+6,16% |
| Gross profit |
11.81 |
10.90 |
+8,35% |
| Net profit |
9.14 |
8.47 |
+13,8% |
The Management Board of Infovide-Matrix sustains that the forecast of financial results for 2007 will be achieved.
The remaining projected sales revenues to be obtained during the fourth quarter amount to 33%. Currently, the company holds a satisfactory order portfolio for services and implementations to be completed this year.
|
Forecast item |
Forecast for 2007 |
Results obtained for first 3 quarters of 2007*
|
Performance |
| Revenues from sales |
216 000 |
143 673 |
67% |
| Profit on operating activities |
20 600 |
12 052 |
59% |
| Gross profit |
20 700 |
12 133 |
59% |
| Net profit |
16 800 |
9 606 |
57% |
”The 2007 profit forecast has been performed in 57%. The level of revenues and profit for the first three quarters is close to those of 2006 and the previous years. Such a seasonality is typical for IT sector companies.” – says Jacek Królik, Vice President of the Management Board of Infovide-Matrix SA
"According to the plan, we are carrying out our issue objectives. So far we have utilized nearly PLN 11 million of the PLN 32.5 million raised through a public share issue. Still during the fourth quarter, we are planning to carry out an acquisition of a company with the operating area complementary to that of Infovide-Matrix, using the proceeds obtained from the share issue. This acquisition will extend our offer for the services that are unique in the Polish IT services market, and will thus strengthen the position of the Infovide-Matrix Capital Group in the Consulting & Solution Implementation area” – says Borys Stokalski, Vice President of the Management Board of Infovide-Matrix SA.
The operations of Infovide-Matrix during the 3rd quarter of 2007 by selected projects carried out in the company’s key sectors:
Telecommunication:
- Carrying out integration Works for Telekomunikacja Polska S.A. (Enterprise Application Integration) as a part of the CRM program, including order management.
- Implementation of a reporting system and software for providing services based on Intelligent Network for another operator.
Banking and finance:
- Execution of a platform for distribution of participation units of the investment funds FUNDS ON-LINE™ for Pekao Financial Services sp. z o.o.
- In cooperation with SAP Polska, start up of the SAP Human Capital Management solution for the Stock Exchange in order to improve processes related to human resources and payroll processes.
- Starting works related to the implementation of the factoring products handling system for one of the leading Polish banks.
- Starting up an Internet banking project in one of leading financial institutions.
Public administration:
- Continuation of providing advisory services to the Ministry of Interior and Administration and the Ministry of Finance. The projects being implemented include, among others, e-PUAP, CEPIK and e-Deklaracje.
Power engineering and industry:
- Carrying out projects for PKN ORLEN. The purpose of one of such projects was implementation of the Project Management Office, which indirectly contributes to an increase of the effectiveness of project operations carried out in the IT Office. Another project related to the development of a concept for the Concern’s corporate architecture management.
During the third quarter, the offer of Infovide-Matrix was extended for a range of provided services with respect to the sale of licenses and implementation of the CRM update.seven solution. The new area of the offer is a result of signing a partnership agreement with update CRM S.A – a leading European supplier of CRM solutions.
Moreover, the Infovide-Matrix Academy was granted the title of APMG (Association of Project Management Group) Accredited Training Organization (ATO) with respect to providing training services in the methodology of the management of the PRINCE 2™ projects.
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