41 Nauky Ave.
Kyiv, 03028, Ukraine
tel.: +380 44 206 4090
fax: +380 44 206 4091
Miratech 2009 operating results
Kyiv, January 11, 2010
Miratech announces the operating results of 2009, according to which the company’s GOR
amounted to 50.397 million UAH with an average growth of 46 percent over 2008; the
company’s EBITA stands at 3.310 million UAH – 25 percent less than in 2008 - the year on
year slowdown to 2008 is to observe as the customers capital investments and operating
budgets stall in crisis.
Chart 1, GOR & EBITA dynamics for 2007 – 2009.
“Despite the rough economic
situation over 2009, Miratech
continued to earn profits.
Whereas the market players
have responded to the crisis by
laying staff off and cutting
wages, Miratech preserved and
increased headcount coming to
the 2009 year end with the
payroll intact and employees
uninjured. Furthermore, we
managed both to retain
business volumes with our
strategic customers and to win
new top rank market players as our clients. These factors, along with the company’s
improved focus on the needs of its customers, have helped maintain Miratech’s growth in
recession,” said Valeriy Kutsyy, Miratech CEO.
During 2009 Miratech continued to emphasize priorities with the targets set for the year. The
approach proved to be effective: in 2009 the company’s business objectives have been
successfully achieved, which resulted in GOR growth up to 50.397 million UAH: a boost of 46
percent against 2008 and 98 percent against 2007. By the end of 2009, the company’s
headcount reached its historical highest total. 2009 highlighted significant achievements in
company’s revenues and order backlog; in general, Miratech performed 25 percent better
than an average Ukrainian IT company.
Miratech is maintaining considerable growth in the field of delivery of IT services. The
company’s offers are the most advanced models that allow customers to reduce costs, and
improve its focus on the core business – it comes as no surprise that a growing number of
new customers were looking to Miratech to help reduce prodigal waste of resources and
optimize risks. In 2010 Miratech plans to continue its rapid growth in Ukrainian market. CEO
Valeriy Kutsyy credits the company’s plans, saying that “Miratech is excellently prepared for
the future. That is why we have made it a top priority for 2010 to increase year on year
revenue at a minimum annual planned rate of 20%, to preserve the growth of personnel, and
to keep on winning top rank strategic customers at domestic market.”
Chart 2, Percentage of key business indicators related to the average value over past 3
For further information please
Alexey Perekatov, Vice
President, Corporate Marketing,
Valeriy Kutsyy, Chief Executive
Phone: +380 44 2064090,
Miratech delivers high-quality IT
services to organizations around
Miratech is the first commercial
IT organization in Ukraine. The
company was established in
early 1989 as one of the first
privately-owned IT enterprises in
then Soviet Union with its original core team coming from the Kyiv-based Glushkov Institute
of Cybernetics, where the first computer in continental Europe was built.
Today Miratech provides world’s leading companies with software engineering, outsourcing
and consulting services.
Miratech has performed hundreds of projects for customers in about 20 countries worldwide.
For the most part our clients are featured in the Fortune 1000 list. Major Miratech customers
are corporate clients in the US and Europe.
Miratech employs 250 experts, many of whom are Cisco, Genesys, IBM, McAfee, Microsoft,
Oracle, Rational, Sun, Veritas certified. The Company is an ISO 9001:2000 certified, SEI
CMM Level 3 software engineering organization.
Miratech major business partners are Alcatel-Lucent, Genesys, IBM, Microsoft and Oracle.
Miratech Web Site www.miratechgroup.com.
January 11, 2010 www.miratechgroup.com Page 2 of 2