The first shareholders’ meeting of IT Kombinat took place on Friday, March 01, 2024, Managing Director Manfred Götz presented the financial figures for 2023, which were then formally adopted by the shareholders in the annual financial statements.
IT Kombinat had an incredibly positive founding year in 2023, generating sales totalling EUR 3.9 million with 10 different customers in the company’s first 10 months. After deducting accruals, provisions, depreciation, amortisation and taxes, the company generated a net profit of EUR 178 thousand. By the end of the year, the company had grown to 19 internal and over 20 external employees.
The company is starting the new year with a cash balance of EUR 534 thousand. Available external funds therefore did not have to be utilised. The current order backlog already ensures good capacity utilisation throughout 2024.
The shareholders have decided not to distribute the profits generated but to continue investing in the company. The company is therefore planning further moderate organic growth in 2024 and, if applicable, an inorganic option to increase sales and employees in the medium term.
The management and shareholders see the increasing internationalisation of their customers’ IT development as the greatest challenge, which the company intends to meet by further expanding its nearshore capacities in countries such as Ukraine, Kosovo, Romania and Poland.
The founders agreed that the current rapid technological leap in the field of artificial intelligence will lead to fundamental changes in IT consulting in the medium term. They would like to focus on this development in the coming years and expand the business model with various in-house developments, possibly also as part of government-funded projects.
