Annual Report 2010 Annual Report 2010 4
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ANNUAL REPORT 2010 ANNUAL REPORT 2010 4 TABLE OF CONTENT ANNUAL REPORT 2010 COMARCH SA 5 Letter from the CEO to Shareholders. .............................................................................................................. 6 Company bodies ..................................................................................................................................................... 8 Managment Board ................................................................................................................................................................................................ 8 Supervisory Board ............................................................................................................................................................................................... 16 Shareholding Structure – 31st the of December 2010 ................................................................................................................................ 17 Comarch SA Share Performance 2010 (in PLN) ........................................................................................................................................... 17 Shareholding Structure – 29th the of April 2011 ........................................................................................................................................... 18 Comarch’s 18th anniversary, Poland’s Silicon Valley at the foot of Cracow’s Wawel Castle ............. 20 Comarch 2010 – facts and figures ................................................................................................................... 22 Financial Data ....................................................................................................................................................................................................... 24 Plans for 2011 ........................................................................................................................................................................................................ 29 Backlog for 2011 .................................................................................................................................................................................................... 29 Comarch Capital Group ...................................................................................................................................... 30 Capital Group Organizational Structure ....................................................................................................................................................... 32 Companies of Group Comarch ......................................................................................................................................................................... 34 The DACH market is of strategic significance for the Comarch ........................................................................................................... 37 Comarch on the Seine ....................................................................................................................................................................................... 40 Comarch in the Southern Europe. .................................................................................................................................................................. 42 Comarch in the Easthern Europe ................................................................................................................................................................... 43 Comarch in the United States ......................................................................................................................................................................... 44 Awards .................................................................................................................................................................................................................... 46 Innovation – the Driving Wheel behind Comarch ..................................................................................................................................... 48 The company’s most valuable assets are its employees. .................................................................................................................... 50 Sponsorship and Corporate Social Responsibility .................................................................................................................................. 52 System Policy. ...................................................................................................................................................................................................... 55 Code of Conduct .................................................................................................................................................................................................. 56 Corporate Governance ....................................................................................................................................................................................... 60 Mass media and social media about Comarch ......................................................................................................................................... 61 Comarch Sales Structure ................................................................................................................................. 64 Important Contracts Concluded in 2010 ...................................................................................................... 68 Comarch’s global customers – map ............................................................................................................... 74 Public Administration, Utilities and Local Government Business Unit .................................................. 76 Telecommunications Business Unit ............................................................................................................. 84 Banking, Insurance and Capital Markets Business Unit .......................................................................... 94 ERP Business Unit ............................................................................................................................................. 104 Services Business Unit ..................................................................................................................................... 110 Financial Statement .......................................................................................................................................... 118 Opinion of an independent auditor .............................................................................................................. 124 Contact Details – worldwide office .............................................................................................................. 126 Contact Details – offices in Poland .............................................................................................................. 128 ANNUAL REPORT 2010 COMARCH SA 6 LETTER FROM THE CEO TO SHAREHOLDERS ANNUAL REPORT 2010 COMARCH SA 7 Krakow, 29th of April, 2011 Dear Shareholders, In 2010, the Comarch Group has succeed in export sales, yet again increased its level of revenue and achieved highly favorable financial results. In 2010, revenue from sales of the Comarch Group increased by 4.4 % and amounted to 761.4 million PLN. The Group achieved extremely positive financial results for sales of core proprietary products and services. There was an increase in EBIT margin from 2 % to 3.3 % despite the restructuring of the German subsidiary company Comarch Software und Beratung AG, which continued in 2010, and despite the costs incurred through developing new and innovative IT projects. In 2010, the operating profit of the Comarch Group amounted to 24.8 million PLN, and net profit attributable to the company’s shareholders reached 43.7 million PLN. 2010 also saw the Comarch Group continue to pursue its long-term growth strategy based on proprietary products and development of foreign activity. The Comarch brand is renowned both domestically and internationally and is associated with technologically advanced IT systems, high quality services and a professional customer-focused approach. Comarch systems support customers from various branches in dozens of countries not only in Poland and Europe, but also in both the Americas and in the Middle East. In 2010, the Comarch Group concluded IT contracts, significant in value and on the European market. They were signed with demanding customers, like E-plus, German telecommunication operator. The company’s strategic guidelines for the coming year include the strengthening of the company’s market position as a global provider of IT products and services for international corporations. To achieve this, the company plans to con- tinue significant infrastructure investment and to intensify marketing operations, especially within the DACH region (Germany, Austria and Switzerland). From the beginning of 2011, the Group has been conducting its business on new markets in Europe and Northern America (Finland, Luxembourg, Canada). The Comarch Group is one of the largest IT enterprises on the domestic market and pursues a large number of projects in all sectors of the economy. A main success achieved by the company over the course of the year 2010 resulted in selling