Dear Shareholders,

The year 2021 was another period of successful development and very good financial results for the Comarch Group. Consolidated sales reached PLN 1.63 billion, operating profit was PLN 187.2 million, and the net profit attributable to the company's shareholders was PLN 123 million. EBIT margin in 2021 was 11.5%, and net margin was 7.6%. 

The key elements of the Comarch Group's strategy remained unchanged throughout 2021. The Group focused on improving the existing and developing new IT products, offering them for many industries and selling them around the world. Almost 94% of the Group's revenue came from the sales of proprietary IT services and solutions, and almost 58% of the sales were generated outside Poland. Last year, business developed rapidly both on the domestic market (an increase of 7.7%) and on foreign markets (an increase of 4.6%), especially in Asia and Western Europe. Customers were particularly interested in solutions for the telecommunications sector, whose sales increased by as much as PLN 98 million, i.e. by 31.8% compared to the previous year. This was the result of the implementation of large contracts obtained in previous periods. The sales of ERP systems as well as services and solutions for Medicine also showed very good dynamics. Thanks to a wide and comprehensive offer of modern IT solutions and high-quality services, the Comarch Group strengthened in 2021 as a leading Polish software producer and one of the leading IT suppliers in the world. Thanks to the global sales network that has been operating for many years, the Comarch Group was able - despite the pandemic and the related limitations - to effectively develop the sales of solutions on new markets. 

In 2021, the Comarch Group continued its large-scale R&D activity. Research expenditure exceeded PLN 317 million, which accounted for 19.5% of the Group's sales. Comarch has intensively developed, among others, a new generation of a loyalty system, ERP system, systems for telecommunications operators, e-commerce solutions, solutions for the medical sector and related to financial services. In 2021, the dominant model for delivering IT solutions was the services model - Comarch is invariably one of the market leaders in this area. 

The Comarch Group increased employment by 261 people and at the end of 2021 it employed 6,723 people. As every year, the summer student internship program was very popular, thanks to which Comarch is perceived as the employer of the first choice on the job market in the IT industry. 

2021 was another year of operation of the company in the conditions of the Covid-19 pandemic. The companies of the Comarch Group have appropriately adapted the organization of work and business processes and have not noted a negative impact of the pandemic on their activities. The beginning of this year brought another challenge in the form of Russian aggression against Ukraine. The Comarch Group is in full solidarity with the Ukrainian nation and from the first day of the conflict provides support in many forms and many areas. The operational activities of the Comarch Group companies are conducted without disruptions, and the effects of the conflict will not have a significant negative impact on the economic situation of the enterprise - in 2021, customers from Ukraine and Russia were responsible for 1.5% of the Group's sales. To increase the diversification and security of its infrastructure, the Comarch Group is building a new Comarch Data Center in the United States, which will be put into operation in the second half of this year.

Last year, the Management Board of Comarch S.A. made efforts to effectively implement the mission of disseminating innovative technical ideas created in Poland around the world, and at the same time implement the policy of corporate social responsibility and sustainable development. The Comarch Group is a patron of culture, art and sport, supports local initiatives, local government and non-governmental organizations, health service units and charity campaigns. In 2021, investments in photovoltaic installations were implemented on the Comarch campus in Krakow, as a result of which the company independently produces some of the energy used for its own needs. 

The past two years have proved that a very good geographical and industry diversification of the Group's activities, a wide product offer, financial resources and the ability to efficiently adapt to a rapidly changing environment are crucial for the long-term existence and development of the company. I hope that also in 2022, the Comarch Group will be able to strengthen its market position as a global provider of IT solutions and increase its value for shareholders, customers, employees and all other stakeholders.

Professor Janusz Filipiak,
President of the Management Board of Comarch S.A.

Reports

All periodical reports are published in Polish and available at Raporty okresowe | COMARCH SA