The group ended 2007 with a 41 million-euro volume of business, 28% higher than the year before, while the IT market grew by 16.7% according to IDC. In 2008, System Plus expects the growth pace of its business to be the same, so that turnover could exceed 52 million euros.
"The results in the first eleven months of 2008 announce a similar increase in turnover for this year, too. In 2009, however we hope to attain a 10-15% growth. The profit margin is harder to estimate because of uncertainties on the financial markets," said Toma Patrascu, System Plus marketing and development manager.
He says the effects of the international economic situation have shown in bill payment.
"Although demand on the market remains high, we are experiencing problems in collecting the money, especially from retail players. A more special situation is that of one of the most important players on this segment, which is seriously strapped for cash." He would not name that particular company, but said System Plus had not halted deliveries to that retailer yet.
Patrascu added that another problem was caused by the reluctance of banks to significantly increase the lines of credit for working capital. "This is why the increase in turnover in the fourth quarter could be lower than initially forecast," he explains.
The company official believes the growth pace on the market will slow down next year, especially on the retail segment. "As for the private sector, I think the situation will start reverting to normal in the second half of 2009, I do not think we will go into recession. The spending policies of the new government will be very important, too."
Established in 1992, System Plus's main line of business is the integration of IT projects (consultancy, IT system design, supply and installation of equipment, technical support and training), while Gemini System Plus (Gemini SP) handles distribution.
System Plus' clients include Auchan, BRD, Banc Post, the National Highway Company, OTP Leasing, Renault, Rompetrol, Selgros and Unicredit Leasing.
The group has about 100 employees and intends to hire more next year. "We still need people and with the changes on the labour market next year it might be easier for us to find better trained people," Patrascu says.
He would not comment on potential takeover offers for his company but added he did not rule out the possibility of System Plus making an acquisition.
System Plus is a partner of US-based companies Hewlett-Packard (HP) and Dell, the top two players on the world market of PC manufacturers.
The company says it is the main Dell dealer in Romania, citing Dell Romania data.
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