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MakoLab makes a strong start to 2022 with a 38% growth in revenues for Q1


Finance, News, Report

MakoLab SA published its Q1 2022 report on 13th May. The company is pleased by markedly better financial results in comparison with the analogical period for 2021. Revenues of PLN 17,871,000 represent an increase of 38% on those for Q1 2021. The export of services to the automotive industry continues to drive the company’s sales. Risk factors include the war in Ukraine, which is having a crucial macroeconomic impact in Poland and globally.
MakoLab S.A.’s latest financial report covers the first quarter of 2022 and brings good news about the company’s growing revenues in comparison to last year. Sales of PLN 17,871,000 reflect a year-on-year increase of 38%. The export of services had a major impact on the result, showing a growth of 42% on Q1 2021 and represent 82% of the sales. The company’s operating costs rose by 28%, primarily on account of growing remuneration costs and the expansion of its personnel and collaborative teams. Thirty new members of staff have joined the company since the beginning of the year. Nonetheless, despite these crucial changes, revenues outstripped the dynamics of the rise in operating costs, which translated into a year-on-year EBIDTA profit of 168%, at PLN 2,797,000.
The first quarter was a time for meetings with our clients, reviewing and summarising things. When it comes to our key projects, we received excellent evaluations of our work to date in every single instance, with the quality of the solutions we’ve provided and the fact that we always bring the project in on time being particularly emphasised. On the one hand, that’s a source of enormous satisfaction to us and, on the other hand, it’s contributed to our orders book, our sales and, in effect, to the company’s finances, as we can see from the results for the first three months of the year.
Wojciech Zieliński, President of the MakoLab S.A. Management Board
Maintaining these high standards and taking on new challenges means ensuring that the right resources are readily available.
Several dozen new members of staff have joined us since the beginning of the year. Even so, we’re no strangers to the problems that the entire IT sector is struggling with. In other words, there just aren’t enough experts on the market to make it possible to grasp all the business opportunities that turn up. We’re intensively focused on expanding our team. Every project we undertake matters to us and that’s particularly significant when the overall macroeconomic situation is poor. On top of the pandemic-driven crisis, we now have the war in Ukraine, which has had an impact on the business of some of our clients and on risk evaluation in terms of operating in Poland. There’s no way we can ignore the high rate of inflation and the rising costs related to it, either.
Wojciech Zieliński
As well as its flagship automotive and financial projects, MakoLab never stops looking for new directions in which to develop and further diversify its client portfolio. One example of this is the way the company is currently building on its skills and experience in servicing ecommerce. At the beginning of the year, it became a business partner of Shopware, a German supplier of cutting-edge ecommerce solutions. MakoLab’s plans for the next few months include taking an active part in conferences and trade shows as a major promotional drive.
Last year also saw the continuation of work in the sphere of R&D. Most important is the development of the company’s proprietary graphchain product (www.graphchain.io). The company purchased scientific research which led to the emergence of a ‘smart contract’ component based on logic methods for Blockchain systems. The project is financed with European Union funding under the Smart Growth Operational Programme. Graphchain also constitutes a technological base for the OTNOCHAIN project which the company carried out in 2021 as part of the European Commission’s Next Generation Internet initiative.
After two years of pandemic, the opportunity for face-to-face encounters with our established and prospective clients is back. We’re planning to be a presence at several key events focused on the automotive industry and the finance and ecommerce sectors. We’ll be actively showing the market what we offer and winning new projects. We intend to really make our mark on what we see as key markets for us; the DACH region and the UK.
Michał Hertel, Communications and Business Development Director, MakoLab SA
The company’s participation in trade fairs and conferences is co-financed by the Go To Brand programme run by the Polish AGENCY FOR Enterprise Development.
Tuesday May 17th, 2022
Author
Michał Hertel
Michał Hertel
Head of Communication & Business Development
+48 604 176 276
michal.hertel@makolab.com