Incentive to grow

This year IT company Infovide-Matrix wants to increase its revenue by six percent, to zł.216 million, and its profits by over four percent, to zł.16.8 million. According to Marek Kobiałka, president of the recently merged company, "this is a very cautious prognosis." He added that last year's revenue exceeded forecasts by 18 percent. This year's predictions could be exceeded as well, as Q1 revenue was up by 16.3 percent y-o-y and contract backlog was worth zł.92 million by the end of May.

Kobiałka also announced that the company is working on 10 potential acquisitions, both in Poland and in CEE. "At least one acquisition will take place by the end of the year," he said. The president also disclosed that Infovide-Matrix is getting ready to conduct due diligence on a potential acquisition - a Polish IT company with a revenue of over zł.10 million and "good profitability."

The firm is also introducing an incentive program for its upper management, though the program is not directed at management and supervisory boards. According to performance, management personnel will be given subscription warrants which they will be able to exchange for company stock after the expiration of the four-year program. If the program's target - the doubling of earnings per share - is reached earlier, the duration of the program could be shortened accordingly.