Optimus grapples with debt restructuring and recapturing its market position

Nowy Sacz-based IT company Optimus plans to cut costs and restructure its debts through a zl. 20 million bond issue. "Bonds can be a much easier way of obtaining capital than a traditional loan," said Optimus president Andrzej Widerszpil. Analysts see this as a very good move. "Restructuring and decreasing the costs of debt servicing is one of the most important issues for the company," commented a broker with DM BPH PBK. Analysts point out that Optimus is heavily indebted and its short-term liabilities substantially exceed its capital. However, the main goal for the company is to regain its lost market share and to achieve profitability. Widerszpil pointed out that the restructuring program has already produced some positive changes in the third quarter. Optimus posted only a very small loss at the operational level, but it achieved a profit in its consolidated results. Despite the fact that the company has made redundancies and sold some of its unprofitable sections it is still losing its market share and its position among the ranking of PC suppliers. (Puls Biznesu, p. 6) M.M.