Teamnet announces financial results for 2013 and the strategy for the next 4 years
Bucharest, June 26th 2014 – Teamnet Group, one of the top three IT&C integrators in Romania, announces its’ financial results for 2013 and strategic plans for the following years, as well as the new partnerships developed this year with internationally renowned investors.
Teamnet Group reports a turnover of 71 million euro for last year, 35% growth compared to the results of over 53 million euro recorded in 2012. The strong advance comes from the important steps made by Teamnet in the past years for its transformation to a regional group focused on developing large-scale projects with a major impact on society. For the following years, Teamnet’s strategy consists of launching complex products and projects that will sustain an accelerated regional expansion with financial support from two renowned partners – IFC, a member of the World Bank Group, and Black Sea Trade & Development Bank towards ensuring a sustainable growth that will result in an estimated revenue of 100 million euro by 2016.
„In the last years, Teamnet has made significant steps for the evolution of each company in the group, of the local IT&C industry and of the entire society, aiming to constantly innovate. Today we are seeing great achievements and we are planning to reach equally significant milestones in the coming years. Our financial results confirm the growth potential, both in Romania and regionally, which is why our strategic plans for the next four years focus on our expansion in important international markets, where we can develop large scale projects focused on our business pillars: engineering, medical services, cloud, business process outsourcing and unmanned air vehicles. Together with IFC and Black Sea Trade & Development Bank as partners, we plan to enhance the growth potential in Romania and in the entire region”, said Bogdan Padiu, CEO Teamnet Group.
Teamnet’s most important steps for 2014 have so far been attracting new investors, moving into a new headquarter and consolidating its regional expansion by opening a new office in Croatia and investing in main strategic areas. Also, Ymens, the cloud company part of Teamnet Group, announces the forming of a partnership with NEC Europe to bring together the expertize and the technology required for delivering high-quality cloud solutions to the Romanian public sector.
Regional expansion is an important step in the company’s future evolution. Teamnet’s business objectives for the next four years have a principal focus on local and regional development. The company recently moved into new headquarters, in the modern office building, Green Gate, a move that translates into a strong competitive advantage and offers to all current and future employees the opportunity to develop their creativity and enhance their performance and efficiency. Over 600 employees are currently working in the new company headquarter, while less than 10% of Teamnet’s workforce remains located in the other local and international offices. Teamnet plans to expand its team and reach 750 employees by the end of this year, following the group’s investments in becoming an employer of choice by supporting intelligence and creativity and developing internship and employer programs to attract talents and specialists.
Moreover, Teamnet invests in the opening of a new office, adding Croatia to the list of 4 countries where it operates regional branches, alongside Belgium, Turkey, the Republic of Moldova and Serbia. The company develops projects in 10 other countries in the region and in the next four years plans to have a high coverage of the Central and Eastern Europe region, as well as Middle East and North Africa. As part of this strategy, Teamnet will open regional offices within 12 new markets such as Poland, Italy and Bulgaria, aiming to increase the share of its revenues generated by activities outside of Romania by 2018 to 40%.
One important step towards increasing innovation for Teamnet is represented by the partnerships signed with well recognized investors – IFC, a member of the World Bank Group, and Black Sea Trade & Development Bank (BSTDB). Since June, IFC and BSTDB become minority stakeholders in Teamnet following an investment of 5 million euro in equity and 7.5 million euro in long-term loans made by each investor.
“Romania is a country with great potential and significant opportunities for innovation. Technology has the power to change and sustain the development of an economy, which is why it is an important industry we look to support around the world. Teamnet has a strong team and product offering that is well positioned for growth and its success will further enhance the IT&C industry in the region”, said Ana Maria Mihaescu, IFC Chief of Mission in Romania.
In total, Teamnet raised a 25 million euro investment that will finance its strategic steps and expansion plans in Romania and in the region.
“BSTDB has a solid investment portfolio in Romania, mainly concentrated in agriculture, energy and SMEs and the micro finance sector. The Bank is broadening operational horizons by adding the IT&C sector to its investment priorities in Romania. We are confident that our partnership with Teamnet will pave the way for new mutually beneficial business opportunities both in Romania and in the Black Sea region”, said Mustafa Boran, BSTDB Vice President Banking.
Regarding the partnership announced with NEC Europe, the two companies, NEC and Ymens, continue to actively promote the governmental cloud as the solution for supporting public institutions in achieving higher efficiency and transparency in the relationship with the citizen and the business environment.
“At NEC, we believe in creating new values for the communities and we put our vast expertize in building solutions for society. The Romanian public sector can enhance its productivity and efficiency by accessing the latest generation technologies through dedicated and personalized IT solutions and services. Together with Ymens, we step forward and form this partnership that will benefit not only the local institutions, but the citizen and the entire society. NEC is bringing its solutions and technologies in the benefit of the Romanian institutions, with the main objective of supporting Romania in becoming part of the European Digital Single Market”, declared Roxana Bănică, Romania Country Manager NEC Eastern Europe.
As part of Teamnet’s long term strategy, an important step will be an IPO that will boost the company’s plans to expand and constantly innovate.
About Teamnet:
With 13 years of experience, Teamnet is one of the most important IT&C integrators in Romania, with a complex portfolio that includes system integration solutions and consulting and outsourcing services.
Teamnet recorded a turnover of 71 million euro in 2013 and has been included for the sixth year in a row in Deloitte Technology Fast 50 Central Europe. Moreover, Teamnet is the only Romanian company included in the „Big 5” category of Deloitte Technology Fast 50 Central Europe in 2013, ranking third.