Penki Kontinentai: €3.5 Million in Profit in 2017

The Penki Kontinentai group, operating in the Lithuanian IT sector for almost 30 years, reported its turnover for 2017 at €34.5 million (compared with €35 million in 2016). The group's unaudited pre-tax profit is €3.5 million and, compared to last year (€2.9 million), increased by almost 20 per cent.

According to Penki Kontinentai Board Chairman Idrakas Dadašovas, the significant group's performance was due to a purposeful analysis of trends in international markets, as well as the development of new as well as previously released products and solutions that fully meet customers’ aspirations and needs.

"We are one of the few companies with Lithuanian capital actively working beyond its borders. Our products and services are well known in 78 world countries, and the last year was quite special for us. We’ve launched a major project in the U.S., which will help us to actively develop in this attractive market. Our protection and video monitoring integrated solution, installed already on 70 thousand unattended devices all over the world, has got a 2017 Lithuanian Product gold medal. We were the first in Lithuania to test the 10 Mbps fiber-optic Internet speed," Mr. Dadašovas says.

According to Dadašovas, the largest portion of revenue in the last year came through services to banking & finance, retail trade, telecommunications companies as well as payment cards processing. The group is leading in Azerbaijan, Georgia, Kazakhstan and the Baltics – and in 2018, it plans to intensify its activities in the Americas, Malaysia and Singapore.

"Last year, we not only optimized our resources in Lithuania, from where, for the most part, our activities will be coordinated – but also invested in subsidiaries in other countries where the number of employees is increased, our services portfolio, in which there will be not only equipment sales, but also business processes optimization and IT resources maintenance, is strengthened. We invested more than €2.5 million in Georgia alone," Idrakas Dadašovas comments.

In 2017, over 24 thousand unattended devices (ATMs) and payment equipment (terminals) in eight countries were serviced. Apart from their supplies and maintenance, the group further developed its successful .iQ software product line for business processes management and monitoring, as well as offered IT outsourcing.

Penki Kontinentai is among the most advanced international corporations working in banking technologies, innovative payment solutions, fiber optic Internet, IPTV and smart home appliances. The groups’ products and services are offered to 78 world countries.

The group includes 21 enterprises, including Penkių kontinentų bankinės technologijos (BS/2), Penkių kontinentų komunikacijų centras, ASHBURN International, and Skaitmeninio sertifikavimo centras. The group’s specialized software and technological solutions created are widely used by international banks, financial institutions, retail and business companies. Penki Kontinentai partners with such leading world companies as Diebold Nixdorf, Cisco Systems, Microsoft, IBM, Motorola and many others.