05 Jul The local company Crescendo increased by 56% in 2017 and is at one step of 80 million lei
The company, specialized in providing IT & C integrated services and solutions, has kept its team under 100 people, according to data from the Ministry of Finance.
The local company Crescendo International, specialized in providing IT & C integrated services and solutions, recorded a 56.4% increase in turnover to 79.3 million lei in 2017, thus achieving the most optimistic budget option for the year before, shows figures reported by the company to the Ministry of Public Finance.
“We are optimistically relying on a turnover of 80 million lei and pessimistic, we estimate an income of 60 million lei for the year 2017”, declared last year for ZF Adrian Petrea, deputy general manager of Crescendo International , which manages the company’s operations.
Crescendo also gained 140.3% of its net profit, to 4.4 million lei (0.96 million euros), thus reaching a net profit margin of 5.5% of turnover. The average number of employees remained, on the other hand, almost equal to the previous year, to less than 90 people, according to data from Finance. The total debts of the company amounted to 13.8 million lei (3 million euros) as at 31 December 2017, down 22% from the previous year.
Crescendo International’s business is divided into four business lines – software, communications, computing, and collaborative platforms. Of these, the largest business weights have business communications solutions for computing. The most important shareholders of the company are Marius Tulea (37% of shares) and Marius Vladu (28%) of shares, according to data from the Trade Register.
The other shareholders of the company are Costel Cristea, Danut Agache, Ion Cristian Radescu and Laurentiu Adrian Petrea. The local software and IT services market has most likely been stagnant amid very low state spending. According to estimates by Pierre Audoin Consultants (PAC), the process of digitalization of public administration in Romania is in a period of major decline in relation to the digitization of the administration in Europe and the world, in 2017 investments in software and software services to about 200-250 million euros, half the peak reached in 2015 and much lower compared to countries like Slovakia or Hungary.