Designed by Freepik

Entersoft SA 2009 Financial Results,Growth despite difficult market conditions

Entersoft’s Group revenues were increased during 2009 despite the difficult economic climate. The Group’s total revenues amounted to 7.228 million increased by 2% compared to the previous year.The company’s growth strategy resulted in the establishment of two subsidiaries, one in Sofia, Bulgaria and one in Bucharest, Romania, along with two acquisitions, Nova Consulting and Retail Link. These investments influenced negatively the Group’s earnings before taxes. It is expected, however, that these investments will contribute positively in 2010 results.The profits before taxes amounted 1.045 million, reduced by 33% compared to 2008.Although the two acquisitions were paid in cash the company’s liquidity is still excellent, a clear indication of a healthy developing company.

Entersoft’s SA total turnover reached 6,820 million, decreased by 4%, while profits before tax amounted to 1,428 million, decreased by 11,5%compared to 2008.

The management considers 2009 a milestone, for the Group’s further growth in the years to come. Current investments in Romanian and Bulgarian subsidiaries, further expansion of Retail Link and increased sales of the new products, Retail, CRM, and E-Commerce are expected to boost the Group’s results.

Within 2009 the company increased its customer list by 320 new important and pioneering companies in their fields, i.e., Benrubi S.A., Tegopoulos X. K. Publications, Haidemenos SA, NAFTEMPORIKI – P. ATHANASIADIS SA , Euroconsultants SA, ELTA Courier SA, KOY KOY SA, MEDIATEL SA, ALPHA Radio SA, Interjet, ASLANIS HOME (Τogas SA), DOCUSYS SA, ATARI HELLAS, OMIKRON CONTROL, SWEETHEART SA, WIN WIN SA, AKRON MEDICAL WARE S.A., FRESH Pastry Shop SA., Vichos Group SA, ENCODE SA, CQS SA, INFOLEX SA, ECOLINE SA, PETRIDIS WATER TECHNOLOGIES SA, Schibsted Classified Media Hellas Ltd and many more.