Penki Kontinentai Group news

Penki Kontinentai Turnover Exceeded 70 Million Euros In 2019

The Penki Kontinentai Group’s turnover operating in the field of banking technologies, payment solutions, retail, fiber optic Internet, and IT services has grown by more than 50 percent compared to 2018 and exceeded 70 million euros in 2019.

“The successful start of the year gave a powerful impetus to our future work. Financial indicators reflect the high level of team professionalism and consistent compliance with the development strategy in each country where we offer our services. Active sales of equipment and software solutions, as well as a growing portfolio of outsourcing services in highly competitive markets, allowed us to diversify our business, which had a beneficial effect on the result,” said Idrakas Dadašovas, Chairperson of the Penki Kontinentai Board.

According to him, Penkių kontinentų bankinės technologijos (BS/2), specializing in technological solutions for banks and retail, achieved the most significant results for the year. Compared to last year, sales rose from 26 to 39 million euros.

BS/2 subsidiaries also hit record highs, doubling their revenues. BS/2 Kazakhstan increased the turnover from 6 to 11 million euros by expanding the range of services and equipment sold. Due to the high quality of service and a large network of service centers, the company has taken a strong competitive market position.

BS/2 Georgia implemented several large projects to outsource acquiring networks for the country’s largest financial institutions because the sales volume doubled to 6 million euros.

Uzbekistan remains a strategically important region for Penki Kontinentai. The country’s attractiveness is growing thanks to progressive state reforms to develop the investment climate, introducing and using innovative solutions. Highly qualified specialists of subsidiaries from Azerbaijan, Georgia, Kazakhstan, and Latvia participate in creating the technological banking infrastructure in Uzbekistan. In 2019, the total cost of projects implemented in this country amounted to 14 million euros. Thus, the Penki Kontinentai Group carries out 8 percent of the total export from Lithuania to Uzbekistan.

According to Idrakas Dadašovas, an important trend of the past year was the growth of software demand. The payment management system Payments.iQ, the currency exchange solution FCX.iQ, the monitoring and IT service management software for self-service systems Vynamic View, which can be integrated with the video security solution ATMeye.iQ as its new module for face detection, are interesting for financial institutions. Over 6,000 ATMeye.iQ licenses were sold last year, bringing the total number of secure self-service devices in the world to more than 80,000.

ASHBURN International, a member of the Penki Kontinentai Group, specializing in outsourcing services, managing EFTPOS terminal networks, and integrating cash systems, has begun active development in Azerbaijan and registered a growth in financial indicators of up to 2.9 million euros.

Penkių kontinentų komunikacijų centras, offering IPTV and Internet Penki, as well as ProfIT outsourcing IT services, recorded an increase in sales. Due to the development of the B2B direction, the business segment income grew by 30 percent. The total annual turnover amounted to 4.2 million euros.

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