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MakoLab confirms positive results for 2020 and Q1 2021

Friday, 15th May, 2021
On 15th May 2021, MakoLab S.A. published its annual report for 2020, confirming the information released in February 2021 to the effect that last year was a good one for the company and that its development had gone according to plan. MakoLab ended the year with revenue of PLN 48 million 578 thousand, marking a 12% growth in comparison with 2019. The export of services, which is the company’s main driving force, rose by 19%. Despite the pandemic, investments went ahead as intended, including the establishment of a subsidiary in Munich to support sales in the DACH region. The report for Quarter 1 2021 was published concurrently with the annual report. The beginning of 2021 brought further growth in revenue and not only saw MakoLab Consulting Sp. z o.o. launch into action, but also the start of several major projects, including work for clients in the insurance and publishing sectors.
The information published on 15th May 2021 in the annual report for 2020 confirms the positive facts and figures previously published by the company with its Q4 2020 report. Sales rose by 12% to PLN 48 million 578 thousand. One of the most crucial events of last year was unquestionably the company’s smoothly efficient shift to remote working. The fact that it retained every project on its books is equally vital.

In a letter which went out to shareholders along with the report, Wojciech Zieliński, President of the MakoLab S.A. Management Board wrote that:
In spite of the challenging economic situation faced by the automotive and aerospace industries and the financial sector, which are our predominant revenue sources, we have not lost a single client. Moreover, by setting out to meet the unexpected, crisis-generated needs of those who use our services and by maintaining our high levels of efficacy in seeing our projects through to fruition, we gained even more trusted partners and our reputation on the market grew. As a result, our sales revenue increased by 12% in comparison to 2019 and the value of our exports rose by 19%.
Wojciech Zieliński, President of the MakoLab S.A. Management Board
Wojciech Zieliński 01
There can be no doubt that 2020 confirmed the validity of the company’s previous investment in its technological infrastructure and the implementation of the ISO 27001 and TISAX norms, meaning that it was well prepared for reorganisation while maintaining all its security standards and the high quality of the projects in progress. The good results for 2020 and the forecasts and plans for 2021 provided the basis for the Board’s recommendation for a dividend payment of one third of the net profit for 2020. The summary of Q1 2021 also brought positive news. MakoLab achieved revenues of PLN 12 million, 956 thousand, marking a 5% growth in comparison with the analogical period last year. The beginning of the year saw the launch of several major projects for clients in the publishing and financial sectors. Taken alongside the stable situation in the sphere of software creation for the automotive industry, this extends the company’s portfolio of services.

Early 2021 also saw positive information in terms of R&D. MakoLab received a very high score for its application to participate in the ONTOCHAIN project under the European Commission’s Next Generation Internet initiative, which aims to utilise Blockchain technology. MakoLab’s part in the project is rooted in the use of the company’s own, original solution, GraphChain. Being accepted to participate is confirmation of MakoLab’s position as an expert in the sphere of innovative uses of Blockchain and creates attractive prospects for becoming involved in commercial undertakings.

Another important event which occurred in Q1 2021 was the operational start of MakoLab Consulting Sp. z o.o.’s activities.
For quite some time now, we’ve noticed that our clients need support in defining their business goals and directions of growth on the basis of technology. In order to meet that need, we began building our competence in that field and including consultancy in the range of services on offer in the MakoLab group’s portfolio. We’re still at the initial stage and we can already see the host of benefits resulting from the synergy between the business approach of the consultants working for MakoLab Consulting and the technological know-how provided by MakoLab.
Wojciech Zieliński, President of the MakoLab S.A. Management Board

Michal Hertel 2
Michał Hertel
Head of Communication & Business Development