Press Room, 15. September 2011

Banks and Utilities bring 40% of revenue

During the first half, Romsys growth increased 10% to 22.8 million. Austrian owners are preparing for IPO in Germany or Austria.

Romsys, one of the largest local integrators of IT&C, taken over by New Frontier Holding Austrian group in 2007 from the businessman Marius Cojanu, forecasts for this year 46.2 million euros turnover, up 10% compared to previous year due to increase in areas such as banking and utilities, stated Horatiu Berdila, Romsys CEO, in an interview for ZF.

At 6 months, we are on track with what we wanted for this year, an increase of 10% over the previous year. More than 25% of income in this period came from the contracts with new customers but at the same time we increased the number of new deliveries to existing customers, "said Berdila.

Last year, the integrator business grew by almost 80%, the increase being driven by two key segments: financial and utilities.


"We especially approached the financial sector; actually we are the company with the best expertise in the group regarding this area. We have over 18 major local customers in the banking sector. We also have insurance references, and a top prioruty for this year is strengthening our presence in this sector."

In recent years, the company has implemented projects for industry leading companies, including ING Romania, BRD Groupe Soc-Gen, Unicredit Tiriac Bank, and also for leading companies in insurance, and Vienna Insurance Group. About 40% of the 46.2 million estimated business this year will be accomplished from financial and insurance sectors. According to own appraisal, Romsys provide solutions and services for approximately 70% of local banks.

"Another important segment for the company is represented by utilities " stated Berdila. "We can say that the Utilities area represents the second core business of Romsys. It is worth specifying the SAP implementation at Rompetrol as the second largest implementation in Romania after the one in Petrom.” Romsys also provide solutions and servicies in telecom, manufacturing, retail, distribution and public sector.

According to Romsys, NFH became no 1 in the top of IT solutions integrators in Balcans area, outrunning Asseco SouthEast Europe and Ness Technologies, the main competitors in the region. Accounting for 35% of total business on a consolidated basis, Romsys is the second largest company of the Austrian concern. Business development in Romania helped New Frontier Holding to achieve over 120 mil eur in 2010.

NFH is planning IPO, plan that brought new objectives for Romanian management team, states Berdila. “At group level, we pepare for IPO, most probably in Frankfurt or Vienna. In this repect, all group companies are intensely working to financial reports that have to be impecable. There are also board discussions for taking over a company in Turkey, in order to cover the whole Central and East Europe area. Romsys company was founded in 1993 by the businessman Marius Cojanu.

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