ZAGREB (Croatia), July 30 (SeeNews) – Croatian customised software solutions provider IN2 expects revenues of 20 million euro ($24.5 million) in 2012, the company’s CEO said.
“We expect a marginal increase in revenues in comparison with the 2011 figure. The profit margin is seen at 9.5% compared with 5.0% in 2011," Ante Mandic told SeeNews in an emailed interview.
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Zagreb-based IN2, set up in 1992, has offices in Bosnia and Herzegovina, Slovenia, Serbia and Macedonia with all units abroad operating profitably. Up to 20% of revenues this year are forecast to come from operations abroad.
Mandic said the company is planning acquisitions but declined to go into details. "Croatia currently offers the best mergers and acquisitions opportunities in the region's IT sector.”
Business growth this year is mostly generated on IN2’s main business segments – development of customised solutions and implementation of proprietary and standard solutions. Looking ahead, further upside is seen in the areas of geographic information systems and enterprise application integration.
“In 2012 we also expect our first projects in two product areas we debuted last year: the enterprise resource planning solution Microsoft Dynamics AX and customer relations management solutions.”
Mandic does not expect the crisis-hit IT market in Croatia to recover this year but a turnaround might be possible next year when the country is due to formally join the EU.
“The fastest recovery and demand growth for our products and services is expected in Slovenia, particularly in the finance industry where we offer solutions for insurance companies and investment banking. These products have already been implemented in several countries - Croatia, Slovenia, Serbia, Bosnia and Herzegovina, Kosovo, and Albania, and they are pacing our regional expansion.”
IN2 Group currently has around 415 employees and during 2012 it plans to boost headcount by around 5.0%.
($=0.8156 euro)