Miratech 2009 Operating Results


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A brief overview of Miratech major activities in 2009 and operating results for the last year.

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Miratech 2009 Operating Results

  1. 1. Miratech 41 Nauky Ave. Kyiv, 03028, Ukraine tel.: +380 44 206 4090 fax: +380 44 206 4091 info@miratechgroup.com www.miratechgroup.com Press Release 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.”
  2. 2. Chart 2, Percentage of key business indicators related to the average value over past 3 years. For further information please contact: Alexey Perekatov, Vice President, Corporate Marketing, Valeriy Kutsyy, Chief Executive Officer, Phone: +380 44 2064090, mailto: info@miratechgroup.com About Miratech Miratech delivers high-quality IT services to organizations around the world. 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