Softec achieved the highest consolidated sales in history (EUR 24.6 million). The banking sector grew the most.

01. March 2020

Bratislava/Prague, February 26, 2020 – The Softec Group announced today that it achieved the highest consolidated sales of EUR 24.6 million last year, which is 22% more than the previous year (last year it was 20.2). It grew the same in the Czech Republic, i.e. by 22%. The success is mainly due to new projects in the banking sector (Czech and Slovak Republics) and insurance industry (Slovak Republic, foreign countries), but also portfolio diversity and increase in the efficiency of the Group. However, the company also experienced positive changes in services for other areas in which it operates, i.e. in telecommunications, public administration, resp. segment of sales of products and services through brokerage networks.

Peter Morávek, Executive Director of the Softec Group: Last financial year was again very successful for us. This is also because the market demand for digital transformation solutions – including digital onboarding (note: acquiring a new client without the necessity to go to a branch), which is our long-term concern – has increased significantly. “

Figure 1 Group sales development in last five years (in EUR)

2015 2016 2017 2018 2019
17,4 mil. 20,6 mil. 21,1 mil. 20,2 mil. 24,6 mil.

 

The figure above shows that the Group’s consolidated sales have been growing in the long term (with a small exception in 2018). Total growth in last five years reached 41%. At the end of last year, the company had 370 people and operated in four cities: Prague, Bratislava, Žilina and Prievidza. It is in the latter two Slovak towns that the Group wants to continue to strengthen its presence in the new financial year (support for regional development).

„The priority for the next period still remains helping our customers, especially those from the financial sector, with digital transformation, resp. transferring our experience and solutions among segments and individual markets, “ adds Morávek.

The Group’s solutions and services are now used by clients in nine Central and Eastern Europe countries. Among the most important are VIG, Raiffeisen, Generali, KBC or Orange.