Profits across the board for MCI
Investment holding firm MCI Management SA has announced impressive financial results for 2004. Last year the company's income from sales was zł.96.1 million, which has almost doubled in comparison to 2003, when income was zł49.9 million. Net profit grew from zł.0.5 million in 2003 to zł3.6 million last year. According to MCI, this is due to "the improved financial results of the companies in MCI's investment portfolio. For the first time, all its portfolio companies have had positive net results."
At the moment there are 12 companies from the field of IT, internet and telecom in the holding's portfolio. As the president of the management board, Tomasz Czechowicz, said: "Most of our investments in the years 1999-2004 were in IT, but right now our main target is the internet."
According to Czechowicz: "MCI's priority in 2005 is starting new investments, as well as developing the current investment portfolio." The fund plans to invest between zł.15-30 million in 2005 and start five new investment projects. Two exits from investments are planned-the sale of portfolio company Process4E, and the IPO in June of Travelplanet, worth zł.6 million.
"Our goals in the long run are retaining the leading position in venture capital investments in new technologies in Poland, and becoming a leader on the Central European market," he added.
At the moment there are 12 companies from the field of IT, internet and telecom in the holding's portfolio. As the president of the management board, Tomasz Czechowicz, said: "Most of our investments in the years 1999-2004 were in IT, but right now our main target is the internet."
According to Czechowicz: "MCI's priority in 2005 is starting new investments, as well as developing the current investment portfolio." The fund plans to invest between zł.15-30 million in 2005 and start five new investment projects. Two exits from investments are planned-the sale of portfolio company Process4E, and the IPO in June of Travelplanet, worth zł.6 million.
"Our goals in the long run are retaining the leading position in venture capital investments in new technologies in Poland, and becoming a leader on the Central European market," he added.
