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Comarch presents financial results for Q1 2022

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Comarch presents financial results for Q1 2022

The Comarch Capital Group presented its financial results for the first quarter of 2022. During the three months, revenues from the sale of Comarch’s products and services amounted to over PLN 416 million, up by PLN 32.4 million and 8.4% compared to the same period last year. Operating profit was PLN 3.4 million lower than in Q1 2021 at PLN 42.8 million, while net profit attributable to equity holders of the parent entity amounted to PLN 32.4 million, up by PLN 6.3 million on the previous year.
The Group generated an EBITDA of PLN 65.6 million, a figure similar to that of last year. Operating profitability in the period under review was +10.3 per cent, while net profitability was +7.8 per cent.
The Comarch Group’s very good financial results are the result of increased revenue from both domestic and foreign sales. In the domestic market, business in the SME and medical segments developed very well. In contrast, the increase in overseas sales was mainly achieved through contracts with customers in the telecommunications and industrial sectors in Western European markets. Domestic sales accounted for 40.3% and international sales for 59.7%. of total revenue in Q1 2022.
In the described period, double-digit growth was achieved in the sales of systems in the SME segment in Poland and in the DACH region. In Poland the value of sales of enterprise management solutions amounted to PLN 68.1 million, improving last year’s result by PLN 13.9 million (25.6%), and in the markets of German-speaking countries it reached PLN 29.9 million, i.e. PLN 2.9 million (10.7%) more than a year ago. Revenues from sales to the medical sector were up by 27.5%. Healthcare institutions purchased products and services worth PLN 15.6 million. The Group also improved its results in the industry & utilities segment, where sales of IT solutions amounted to PLN 52.5 million, growing 21.9% y/y, and in the public sector – where revenues grew nearly 2% to PLN 29.2 million. 
The largest part of the Comarch Group’s business, over 25 per cent of total revenues, is invariably sales to TMT sector customers. Telecommunications companies purchased Comarch products worth PLN 105.9 million, 15.5% more than a year ago. However, there was a decrease in the trade and services segment, where revenues amounted to PLN 56.7 million, i.e. PLN 6.7 million less than in Q1 2021, and in the finance and banking sector. Sales to institutions in this sector amounted to PLN 52.3 million, which is PLN 5.4 million less than a year ago.
- Thanks to the very good financial results achieved in Q1 2022 and in the previous periods, the financial situation of the Comarch Group is stable and guarantees security of operations in the event of a volatile political and economic situation in Poland and in the world. This is particularly important in the face of the Russian invasion of Ukraine in February 2022, as well as the still ongoing Covid-19 pandemic and the social, political and economic consequences it entails”, says Konrad Tarański, Vice-President of the Management Board and CFO of Comarch. The Comarch Group consciously incurs the costs of developing new products and new business segments as well as expanding into new foreign markets, thus investing in building a competitive edge for the future. We are actively looking for new markets in, among others, Western Europe and Asia, Australia and Oceania, and we are constantly expanding and modernising our own infrastructure, adds Konrad Tarański.