Comarch continues expanding internationally and forecasts income growth in 2011

The expansion of Comarch Capital Group in Western Europe initiated in 2008 by the acquisition of SoftM, a German IT company, will continue in 2011. Piotr Reichert, responsible for Comarch Group’s finance sector, forecasts a positive impact of international growth on the company’s income in 2011.

This year, Comarch is planning to register a new subsidiary company in Luxemburg to serve the Benelux market, which is considered strategic. Comarch states that further company acquisitions are also possible.
- The DACH markets (Germany, Austria, Switzerland) are our key target, along with Benelux and Scandinavia. We are planning dynamic development in these regions – says Reichert. – Acquisitions are not out of the question as the market offers interesting opportunities.

Investments planned for 2011 include not only new localizations but also new products. Comarch will be presenting a new system designed for brokerage offices operating on multiple stock markets. The system will be launched this year and will contribute to Comarch’s finance sector income.

- Constant development is a must for banking and insurance companies. We are already experiencing a post-crisis increase in offer enquiries, almost reaching the level preceding 2008 – says Reichert. – 2010 was a breakthrough year for the finance sector in terms of signed contracts. This will have a positive impact on our income, which should be much higher in 2011.

In Q1-Q3 2010 Comarch Capital Group posted consolidated net revenues of 12.79 million PLN, up from 5.71 million PLN in Q1-Q3 of the previous year. The company attained an income of 497.38 million PLN in the first three quarters of 2010 compared to 497.52 million PLN for the same period of 2009.