history – EUR 3,054 thousand. This means an increase of 2 % compared to the previous year. |The positive point is an increase in the overall added value. With respect to the general economic conditions on the market and the excess of capacities in the sector of information technologies, I perceive these results as satisfactory.
Regarding the year 2012 in general, it seems to be important that besides maintaining a very respectable economic performance, we benefited from investment into long-term technologies, interesting business opportunities and we increased our operational effectiveness. This gives us a very good position for growth in the following years.
Marián Marek, Chief Executive Officer
With regard to our economic performance, year 2012 entered the history of the company in terms of financial results as the second most successful right after the exceptional year 2010. A key achievement was the increase in profitability despite the ongoing very difficult macroeconomic and market environment.
Our total revenues reached a total of EUR 31,426 thousand, which presents a value decreased by 7%. Gross margin EUR 17,623 thousand increased by 2% and EBITDA, earnings before interest, tax, depreciation and amortization, in the amount of EUR 4,043 thousand increased of 5%. The decline in revenues was caused by lower revenues of goods. On the other hand, their added value increased significantly. Despite a decline of revenues, the added value shows transparently the real economic performance of the company. Also the growth of EBITDA in a difficult market environment can be called a success.
Miroslav Bielčik, Chief Financial Officer
The year 2012 was a difficult one for both PosAm and the IT sector in general. Customers were more cautious about investments in new technologies, and they preferred investments with rapid return. The overall volume of investments on the market continued to decrease, and larger development projects occurred less frequently than in the past. Taking this context into account, I consider our last year’s results very good.
The good results were based on maintaining the position and development of new projects for our long-term customers. The good news is that we acquired several new customers across all sales groups. References obtained in new, perspective areas also provide us with an optimistic outlook.
René Kubiš, Chief Sales & Marketing Officer
PosAm is a company which has always stressed the importance of its employees and their skills. The fact that we offer and create work conditions that motivate our employees is supported by several awards we obtained. After being placed among the most exceptional IT companies in the Czech Republic and Slovakia in 2011 (awarded by the Hewitt company), we became the Leading HR Organisation within the PWC HR Controlling 2012 survey. This award goes to the company with the most effective HR management in the sector of information technologies.
Milan Drobný, Chief Operations Officer
More information: Annual Report for 2012