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Comarch’s financial results for the three quarters of 2022 

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Comarch’s financial results for the three quarters of 2022

More than PLN 1.3 billion in sales revenue was generated by the Comarch Capital Group in the first nine months of 2022. This is PLN 206.5 million more than in the same period in 2021. The operating result amounted to PLN 131.5 million and was PLN 7.7 million or 6.2 per cent higher than that achieved in the three quarters of 2021. The EBITDA result also increased. Its value amounted to PLN 201.5 million, an increase of PLN 12.8 million, or 6.8 per cent, compared to the previous year. In turn, net profit attributable to shareholders of the parent company was PLN 12.2 million lower at PLN 72.7 million.
However, in Q3 2022 alone, the Comarch Group sold products and services worth PLN 471.1 million. The operating result reached PLN 60.3 million and was PLN 1.4 million higher than that achieved in the same period in 2021. Net profit attributable to equity holders of the parent amounted to PLN 27.9 million, while EBITDA reached PLN 83.9 million. 
The largest part of the Comarch Group’s revenue during the three quarters was the sale of IT systems for telecoms, which amounted to PLN 306.5 million, an increase of PLN 27.7 million, or 9.9 per cent, compared to the same period in 2021. In contrast, sales of products and services to companies in the industrial sector achieved the greatest increase in revenue. It grew by PLN 43.1 million, or 32.6 per cent, over the nine months to reach PLN 175.2 million. An increase was also recorded in sales to customers in the trade and services sector, amounting to PLN 197.9 million, up by PLN 28.3 million, or 16.7 per cent, more compared to the previous year, and to customers in the financial and banking sector, where revenues increased by PLN 32.5 million, or 20.4 per cent, to reach PLN 191.3 million. Business in the SME sector in Poland also maintained its double-digit growth rate, increasing y/y by PLN 37 million, or 23.8 per cent, to reach PLN 192.6 million. Revenue from sales of same-class systems in the DACH region also increased, by PLN 7.7 million, or 10.5 per cent. Revenues from the public administration sector, on the other hand, grew by PLN 25.5 million, or 33.7 per cent, and amounted to PLN 101.3 million. In contrast, revenue from sales to the medical sector decreased by PLN 4.5 million, or 10 per cent.
In Q3 alone, sales in the public administration sector achieved the highest growth of 61.6 per cent. These institutions purchased PLN 39.6 million worth of products, 15.1 million more than in Q3 2021. Sales of products for trading and service companies also increased, reaching PLN 75.3 million, up by PLN 16.1 million or 27.3 per cent compared to the same period in 2021. The Comarch Group also achieved better sales in the TMT sector, which amounted to PLN 110.2 million, PLN 13.6 million more compared to the previous year. Higher revenues were also generated in the SME sector in Poland – an increase of PLN 11.6 million (i.e. 22.6 per cent) to PLN 62.8 million, and in the DACH countries, where customers purchased IT systems and services worth PLN 28.3 million, an increase of PLN 4.8 million, or 20.4 per cent, more compared to the previous year. On the other hand, revenues from sales to industrial companies increased by PLN 11.5 million, or 21.9 per cent, and amounted to PLN 63.9 million. Business in the finance and banking segment also brought in more revenue by PLN 14.4 million, or 25.9 per cent, to reach revenue of PLN 69.9 million. In contrast, there was a decrease in revenue by the medical facility products division. Their sales amounted to PLN 11.4 million and were PLN 5.6 million, or 33.3 per cent, higher than in Q3 2021. 
“Despite the complex situation in the global economy, Comarch’s business is growing and is constantly pursuing a strategy that allows the company to maintain its stable position. In the coming months, we plan to continue investing in R&D of IT solutions based predominantly on our own products, develop sales on foreign markets, especially in Western Europe, Asia and Oceania and North America, and develop further business areas, especially in telemedicine, Internet of Things (IoT), e-commerce services and services related to the financial market”, says Konrad Tarański, Vice President of the Management Board and CFO of Comarch.
During the three quarters of 2022, the Comarch Group also increased its workforce by 393 people and had 7,116 employees at the end of September this year. The staff expansion was linked, as it is every year, to the summer internship programme conducted in Q3.