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MakoLab’s growth trend continues in Quarter 3 of 2021

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MakoLab published its Q3 2021 report on 12th November. Net sales revenues were 20% higher than for the analogical period last year, with a cumulative worth of PLN 39,864,000, marking a change of 11% in comparison to 2020. The same pace of growth for was recorded for domestic and foreign sales, with the latter accounting for 80% of the revenues.
The summary of Q3 2021 is primarily good news concerning the fact that the company is maintaining its sales growth. At 20%, the increase in revenues in comparison to the same period last year is a vital one. The company’s sales, which have been growing since the beginning of the year, reached a value of PLN 39,864,000 for quarters 1 to 3, representing an increase of 11% on the analogical period for 2020. At the same time, the 11% pace of growth encompasses both exports and domestic sales. As with the preceding periods, MakoLab’s driving force is the creation of software for connected vehicles and the implementation of custom-designed business systems.
The third quarter saw us complete a crucial stage of a pivotal project for a major client in the automotive sector. Even more importantly, we brought the highly complex IT system in on time and attained all the goals we were faced with. I’m delighted by that, because we focus on being a reliable, predictable and trusted partner to major players. It’s a vital aspect of our long-term strategy, producing measurable business benefits for our clients and our company.
Wojciech Zieliński, President of the MakoLab S.A. Management Board
MakoLab is growing despite the fact that the automotive sector, which is pivotal to the company, is showing a downturn as a result of lower sales of new vehicles and disruptions in the supply chains for parts.
There are operational areas where our clients have reviewed their original budgets downwards in 2021. We were ready for that. Our wide range of know-how and skills in providing IT services for the automotive industry means that, instead of projects that have been suspended or closed, we are offering our services in other automotive areas that are a priority to clients in the sector. We’re invited to take part in the processes of creating developmental ideas, which will contribute to new projects. Right now, we’re signing contracts for services in 2022. They’re worth more and they relate to projects that are vital to our clients. We’re also in talks about completely new ideas.
Wojciech Zieliński
Like most companies in the IT sector, MakoLab is running an intensive, ongoing recruitment campaign as a result of the shortage of experts on the market.
The availability of IT specialists is also our problem, of course, and it does affect revenues, which could be higher if we were able to tackle all the services our clients are telling us they need.
Wojciech Zieliński
In the light of this situation, the company is also entering into collaboration with subcontractors. Recruitment and collaboration alike are being caried out throughout Poland and internationally.

The past three months have also seen the conclusion of another stage of the OTNOCHAIN project, which the company is carrying out as part of the European Commission’s Next Generation Internet initiative. The work is grounded in MakoLab’s original GraphChain technology. The company’s involvement means that it is not only taking part in an advanced Blockchain project, but also has the opportunity of extensive business networking.
This year, we’ve undertaken a range of activities focused on winning new clients. We received financing for promoting the MakoLab brand under the Polish Agency for Enterprise Development’s Go To Brand project and we put the funds to work in the third quarter. We have our first participation in industry events under our belts now, along with our first sales contacts, and we’ve drawn our first conclusions. It’s provided us with plenty of valuable insights into how to promote our services on the highly competitive, global IT services market.
Wojciech Zieliński
Monday, November 15th, 2021
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Michał Hertel
Head of Communication & Business Development