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Kogifi Digital's financial report for the first half of 2020 is a good mood reading. It is not often that you can find so many optimistic data and even better forecasts for the future in one place.
The company's net profit in the discussed period reached PLN 0.5 million, which was a 366% increase year-on-year. Net sales revenues soared to the level of PLN 4.8 million, which means over fivefold increase y/y. The prospects for the future are even better. The company's representatives forecast that by the end of this year, sales revenues will increase to approx. PLN 16 million net, and they will be over three times higher than in 2019, when they reached the amount of PLN 5.09 million net.
What does Kogifi Digital earn from?
- Almost half of our revenues is generated by the implementation of e-commerce systems, e.g. Adobe Magento, as well as by designing and implementing CMS platforms such as Sitecore or Adobe, and enterprise intranet based on Microsoft SharePoint. Another 20 percent of revenue is the result of maintaining implementations in the 24/7 model according to the ITIL standard and supporting customers in generating sales through online channels. The pandemic has "provided" many businesses with an accelerated lesson in digital transformation. It caused the galloping development of e-commerce, as well as forced many businesses to quickly switch to remote work mode and improve communication tools. Hence, a significant development of entrepreneurs' awareness of the need to invest in new technologies and, as a result - increased interest in our offer - says Tomasz Gibas, head of sales at Kogifi Digital, in the information published by Strefa Inwestorów.
This is just the beginning
As we have already mentioned, the increases are not over. According to Kogifi Digital's management forecasts, the second half of 2020 is to be even better. The main growth driver in the next several months is to be the company's expansion to foreign markets - mainly in the DACH, Nordic and UK markets. There is nothing left for us to do but wait for the financial statements for the second half of this year.