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SIV.AG gains new market shares

Roggentin, January, 22, 2008.
As one of the leading software and consulting companies for the power and water industry, the SIV.AG keeps on going on the offensive.
Judging by the preliminary forecasts, the group of companies managed to reach the highest in its history record sales of EUR 18.868 million, despite the growing pressure on competition in the country and the necessity of cost reduction in the IT sector.
The SIV.AG parent company accounts for EUR 16.350 million, which makes a turnover increase of EUR 983,000 or 6,4%, as compared to 2006. These numbers exceed the former record sales of EUR 16.117 million in 2005.
The wholly owned subsidiary of SIV.AG A&T GmbH started its activity in 2006 and reached a sales volume of EUR 1.050 million in its first business year.
For the first time in SIV´s history, 7.8% of its total revenue were gained through international projects. One of the most important international projects was the implementation of the multilingual and multi-currency billing system kVASy® in Bulgaria for the consumers of electricity of E.ON and EVN. The wholly owned subsidiary of the SIV in Bulgaria, SIV.BG EOOD, also founded in 2006, reached preliminary record sales of EUR 1.468 million (2.862.426 Bulgarian Lewa) in 2007.
Jörg Sinnig, Chairman of the Board, commented on the successful company´s development: “2007 in retrospect, we can say that our national and international strategy has proved its value. Taking into consideration the current forecast, we expect the coming year to be the most successful in company´s history. We anticipate that the investments of the last three years into technological development and sustainable international expansion amounting to EUR 6.000 million will considerably redeem themselves.”