Crescendo International's business was about 50 million lei in 2016

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Crescendo International’s business was about 50 million lei in 2016: demand for IT security solutions began to grow

25 May Crescendo International’s business was about 50 million lei in 2016: demand for IT security solutions began to grow

Posted at 11:16h in APARITII MASS MEDIA, Ziarul Financiar by Silvia 0 Comments

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Although in 2016 the IT & C integrator had declining business, revenue in the first three months of this year doubled compared with the first quarter of 2016.

Crescendo International, one of the largest providers of integrated IT & C services and solutions on the local market, recorded last year business of 50.7 million lei, almost 8% less than in 2015, the decrease being due to the delayed to complete some traditional IT projects. The demand for IT solutions based on the latest technologies is, however, increasing, cyber security solutions, for example, registering a 20% increase in 2016 compared to 2015.

“The turnover of the year 2016 reached the amount of 50,671,317 lei after the previous year ended with an income of 54,914,520 lei. The decrease was due to the fact that some projects were offset against the initial estimates and were not finalized in 2016. We are constantly working to increase the share of recurring revenues from traditional revenues in total revenues but we have to take into account that we are talking about a long process,” said Adrian Petrea, Crescendo International Deputy General Manager, who manages the company’s operations.

Crescendo International’s IT&C integration activity is divided into four business lines – software, communications, computing, and collaborative platforms. Of these, the most important contributor into achieved turnover last year was the business communications line with 40%, and the computing solution with 35%. In fact, revenue generated by the computing solution business line recorded the highest growth last year.

“Based on the structure of the projects completed in 2016, the business line with the highest growth compared to 2015 was the one of computing,” Petrea pointed out. He added that last year the company won 20 new clients in various fields such as financial-insurance, pharmacy, industry, for which it has integrated a series of solutions based on new technologies. Cyber security solutions were also among the solutions that had substantial growth in 2016, with 20% higher demand than in 2015. Overall, in CRESCENDO’s business, IT security solutions had a share of about 10% .

Although in 2016 the IT & C integrator had declining business, revenue in the first three months of this year doubled compared with the first quarter of 2016.

“The first quarter of the year brought us revenues of 14,020,114 lei, compared to the same period last year, when the revenues exceeded by 6,500,000 lei. We recorded this increase due to the fact that some of the projects that should have been completed in 2016, which would have brought a reasonable increase in turnover in 2016 compared to 2015, were actually completed in the first part 2017, ” he explained.

In 2015 Crescendo International net turnover was 54.9 million lei, according to data from the Ministry of Finance.

In addition to finalizing projects started in 2016, in the first quarter of this year, the company has concluded three new contracts and has continued to work with existing customers to deliver various IT solutions and services.

“In the first quarter we had three new contracts with new clients – financial and insurance companies and over 50 new contracts (of varying size) with clients with whom we already work,” Petrea stressed.

The Crescendo International team currently has 92 people, with 7 more than at the end of last year.

Article published in the printed edition of Ziarul Financiar of 25.05.2017

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Adrian Petrea, CRESCENDO

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