Sirma Group Holding (SKK BU) discussing new leaner structure and cloud, data and cognitive tech solutions as strategic areas of development – the Company announced that has been having meetings with key institutional investors in Bulgaria over the last two weeks discussing its new five year strategy post the 2015 IPO.
Sirma Group Holding streamlining strategic areas
The strategy envisions streamlining the business within the intelligent enterprise solutions with key development areas being cloud, data and cognitive business solutions. Sirma Group to focus on key verticals providing multi industrial solutions for the finance, production, health care, media, cultural heritage, and retail. The Company recently launched its image recognition prototype for the retail industry – Marketvidia that should enable stores to gain valuable cognitive information about the customers visiting in store.
Sirma Group 5-year forecast: Revenues up to EUR 120m in 2022
At a regular online meeting with investors on FY 2016, Sirma Group Holding reported delivering EUR 20m in sales, up 22% y/y, while EBIDA expanded 31% y/y to EUR 6.5m.
The company also presented a forecast for five years key financial indicators with top line expected to surge 6x by 2022 to EUR 120m, aka 33% CAGR, and EBITDA to expand 4x to EUR 25m.
US Sirma Group with pipeline of contracts and expecting inflows in March-April
“We are advancing with the development of our American Sirma Group already”, noted Yavor Jonev, one of Sirma founders and heading now the development of US business of the Group. He explained to investors the strategy of developing the North American division of a global company and why this strategy should not be mistaken for opening a representation office.
“March is crucial for us here because after 6 months of business activity we are already having our first revenues”, said Jonev when commenting the news and perspectives from US strategy. “We managed to locate a market niche, which is badly served by our competitors and we can enter with our advantages as well as get good earnings. There are contracts and deals already with companies having turnover of USD 20m less and a team of 10 to 50”, explained Jonev.
Dividends are to be announced after Annual shareholders meeting
Sirma Group Holding confirms its dividend policy to distributed 20-40% of its profit as dividend to shareholders. Tsvetan Alexiev, CEO, said that dividend will be decided at the Annual Shareholders Meeting later during the year.