In Q3 2014, the Group recorded better results in comparison with Q1 and Q2. However, the results are worse than in Q3 2013, which was extraordinarily successful.
In Q3 2014, the consolidated results were as follows: sales revenues totalled PLN 47,313 thousand (fall by 9% yoy), gross profit from sales amounted to PLN 13,151 thousand (fall by 13% yoy), EBITDA was PLN 4,016 thousand (fall by 47% yoy). In Q3 (and cumulatively), both the consolidated and standalone net result of the Company is positive; however, it is still much lower than a year before. Consolidated net profit totalled PLN 1,412 thousand, while standalone net profit was PLN 1,205 thousand. The sales were significantly influenced by too low sale to the public sector. Additionally, the results were negatively affected by increased overheads, which in turn was caused by the consolidation of TrustIT and Phoenix Systems companies initiated in H1 2014, as well as higher own costs of the Parent Company due to strategic strengthening and expanding sales activities.
The Group's results in Q3 2014 were negatively affected by companies Atende Medica and Phoenix Systems. On the other hand, companies Atende Software, Sputnik Software, and, to some extent, TrustIT, had a positive impact on the financial result. Atende company significantly improved its revenues from sales and margin, both in Q3 and over all three quarters of 2014 in the ICT infrastructure integration, a segment focusing on the construction and fitting of data centres. Sales in the financial sector and in the industry, trade and service sector also considerably improved, which should be seen as the next step in line with the strategy of strong reduction of the Company's dependence on the revenues from the public procurement sector.