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MakoLab continues growth trend in Quarter 2 of 2021


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MakoLab published its report for the second quarter of 2021 on 13th August. The company has kept up its trend for growth and, at the end of the first half of the year, can pride itself on revenues which, at PLN 25,583,000, are 7% higher than for the analogical period in 2020. Export services, which are responsible for around 80% of the revenue, showed an increase similar to the previous period, at around 4%. At the same time, it is noteworthy that 18% of the growth came from domestic sales.
A summary of the second quarter of 2021 brings positive information concerning MakoLab’s current operations. During the first half of the year, the company achieved revenues of PLN 25,583,000, marking a 7% growth in comparison with the analogical period last year. The EBIDTA profit reached PLN 1,732,000 and the net profit, PLN 968,000. The year-on-year growth for exports, which are responsible for 80% of the sales value, was around 4%.

The increase in the value of sales on the Polish market is a positive signal, with the company recording a year-on-year growth of 18%. Projects connected with IT outsourcing were a major influence on this, as was the deployment of systems supporting sales processes in the automotive sector at large.
The projects we carry out for foreign markets are our primary source of revenue. We’ve attained stable growth in that area, which particularly pleases me because, despite clear signs of improvement in the sectors we work with, the effects of the slowdown triggered by the pandemic can still be felt. The new projects coming to us from the domestic market are a positive signal. They’re making it possible for us to diversify our business. It’s also evidence that our local partners see investment in IT solutions and collaboration with us as a chance to develop in the sphere of digital transformation. Our growth could have been quicker, but we’re restricted by the situation on the market for IT specialists, where we’re running into tough competition from other suppliers of digital solutions. As a result, the availability of IT specialists is limited and the costs related to employing them are rising.
Wojciech Zieliński, President of MakoLab S.A.’s Management Board provides some details.
In the second quarter of 2021, the company recorded a 17% increase in operating costs in comparison with the analogical period last year. This was brought about by a rise in employment costs, primarily as a result of an increase in staff numbers. The increase is a planned one and it springs from the requirements for current and future projects.

An important milestone during the second quarter was the conclusion of the first stage of work on the OTNOCHAIN project which the company is carrying out as part of the European Commission’s Next Generation Internet initiative. The project aims to support innovators in the use of Blockchain technologies to maintain the integrity and trustworthiness of knowledge represented by means of semantic technologies. The fundamental solution put forward by MakoLab for the project is GraphChain, the company’s own, original technology.
At the moment ONTOCHAIN is our key project in the research and development sphere. It’s especially vital in the context of building competencies in terms of technologies as crucial and developmental as Blockchain. The quality of our work is highly regarded by the ONTOCHAIN consortium and, as a result, we’ve qualified for the second stage of the project. That means not only further financing for our R&D operations, but also numerous promising business contacts with European organisations specialising in similar solutions.
Wojciech Zieliński expands on the topic.
Tuesday August 17th, 2021
Author
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Michał Hertel
Head of Communication & Business Development