Growth in 2008. 2009? Remains to be seen - CRESCENDO

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Growth in 2008. 2009? Remains to be seen

15 Apr Growth in 2008. 2009? Remains to be seen

Posted at 12:10h in COMUNICATE DE PRESA by Silvia 0 Comments

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With a turnover increase of more than 80%, in 2008 compared to 2007, CRESCENDO the IT&C solution house looks realistically at 2009, the year when it will provide its clients with more added value.

Bucharest, April 15, 2009: CRESCENDO, the IT & C Solutions House announces that in 2008 it recorded an increase in revenues by over 80% compared to 2007, while the gross profit increased by 20%, due to the increase in the first three Quarters of 2008.

CRESCENDO’s turnover in 2008 amounted to 18,163 million euros, almost 2 million more than the preliminaries, even if the exchange rate volatility was significant at the end of the year.

“In 2008, we have benefited fully from the results of our efforts in previous years, efforts to add value to the business of our IT & C customers. The partnerships developed over time helped us as well as a chance: some of the projects prepared in previous years were implemented in the past year, which has significantly increased our turnover,” said Marius Tulea, General Manager CRESCENDO .

More than 60% of the turnover growth was due to value-added services, the direct consequence of the activity optimization process in recent years, when the company aimed at better adapting and opening up to customers’ demands and expectations, including by increasing the share of services, in total activity.

The share of services in total revenues was over 50% in 2008, with a significant increase in integration services. At the same time, the software solutions provided accounted for about 25% of total revenue.

Crisis challenges and business directions

2009 is already and will remain a difficult year for the whole market. As a crisis management measure, CRESCENDO the IT&C Solution House provided a budget restructuring on every business direction with better detail and a more careful follow-up of cost structures.

“Given the current economic conditions, it is difficult to estimate how business will evolve,” Marius Tulea said. “At the beginning of the year, we have budgeted two possible scenarios: one optimistic, keeping the turnover and another pessimistic with a tens of percent business decrease. We constantly review them, we pay attention to the costs and efficiency of the business, on each business line. In the areas where we are efficient, we make it specific, on a case-by-case basis, by applying the right solution. The results so far make me believe that if the crisis were to end, we could turn to the optimistic scenario of maintaining the turnover “, says Marius Tulea.

Based on the history of successful collaboration with the banks and their funding partners, CRESCENDO has managed to keep funding at reasonable costs for that period, which at least for the time being compensates for the challenges posed by the lack of liquidity in the market where the collection cycle has doubled over the last five months.

CRESCENDO will continue to focus its offer on value-added solutions and services to support – more than ever – the cost reduction for its customers and to provide them with competitive advantages in maintaining and increasing their own market shares.

Marius Tulea adds: “For 2009, we maintain the directions set at the end of 2008: with an eye on costs, with both eyes at opportunities! We aim to strengthen the sales team to make it easier for customers to access the business benefits of implementing IT & C solutions. We will be able to better use our delivery and implementation skills and capabilities. We will continue to evaluate and address new market segments, solutions and services, always paying attention to costs. At the same time, we aim to make the most of our complementary skills and strengthen the relationship with our traditional partners.”

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