Sirma targets EUR 120 Million of Consolidated Sales Revenue by 2022

Sirma Group Holding

Sirma Group Holding

Sirma Group Holding published its 2018 – 2022 strategy on 1 February 2018. The Company has set three main goals for the period, namely increase in the expertise and value of the Group, diversification of revenue sources and reaching EUR 120m in revenues in FY2022.

To do so, Sirma has defined the following KPIs:

  • 35% average growth in revenues
  • 70% share of SaaS services in Company’s sales
  • 70% of revenues generated in the USA and Europe
  • 29% EBITDA margin

“We realize the challenges of disclosing our Strategy and anticipated results. However, we truly believe in transparent corporate management and feel obliged to share with our shareholders our knowledge, intentions and considerations. Hence we accept the challenges and share the Strategy of Sirma Group for Development and Growth for the period 2018 – 2022.”, said Tsvetan Alexiev – CEO of Sirma Group.

The Company’s strategy includes the development of a cloud-based cognitive software system (SENPAI), concentration and migration of intellectual rights and technologies as well as centralization of the R&D processes. In addition, Sirma envisions the creation of new cognitive products, coupled with the integration of existing products with cognitive technologies.

During the 2018 – 2022 period, the Company will focus on cybersecurity and block-chain technologies aimed at the banking sector. It will also work towards migrating from revenues from products to revenues from cloud-based services (the SaaS model), as well as deepening the synergy with its business partners and development of export markets.

Financing Sirma plans

To implement its investment plans, Sirma plans to borrow an investment credit in the amount of EUR 5m (already taken out) and raise EUR 20m via an SPO.

About Sirma Group

Sirma Group became a public company in 2015 following the largest successful IPO after 2008, which raised approx. BGN 12 mn. Sirma is the largest Bulgarian IT company with key capacity in software engineering, semantic technologies, system integration, cloud and mobile solutions.

Read the short and full version of the Strategy