Penki Kontinetai Financial Results for the First Quarter Of 2020

Penki Kontinetai Group’s revenue for the first quarter of 2020 amounted to 10.2 million euros. Financial indicators are consistent with the results of the same period last year.

“We take into account the COVID-19 impact on the economies of different countries, and at the same time, we do not plan to change our strategy and investment volumes. Given the current situation of partners in many countries, our specialists develop new technological tools that will help maintain stable performance in the future,” says Idrakas Dadašovas, Chairperson of the Penki Kontinetai Board.

According to him, in all countries, strategically important for Penki Kontinetai, the government takes decisive measures to stimulate the national economy, which should mitigate the pandemic’s effects. The Group of companies, in turn, fulfills its obligations without applying for government subsidies and retains jobs in all subsidiaries. The Group’s staff increased by nine percent compared to last year.

Penki Kontinetai pays particular attention to optimizing business processes based on the principles of joint integrated use of Knowledge Base, project management systems, CRM, and analytics. Operational changes have been made to software products that use forecasting algorithms, taking into account the emergence of cyclic critical situations like arising during a pandemic.

Penkių kontinentų bankinės technologijos (BS/2), specializing in technological solutions for banks and retailers, recorded increased financial performance. The company continues to implement projects for the sale of self-service devices, the introduction of software solutions, and comprehensive outsourcing services.

“This period, as never before, is suitable for the transition to the new .iQ technology platform, which uses new means of data storage, security, monitoring of information resources, access and visual display using cloud technologies and the concept of Big Data. We note that interest in contactless payments and biometric solutions has significantly increased among our partners,” says I. Dadašovas.

ASHBURN International, which has established itself as a provider of flexible, innovative solutions for acquiring organizations, continues to develop new software products. The TransLink.iQ system provides the ability to perform a cash register, payment terminal, and fiscal module on a device running on the Android OS.

The upward trend in financial indicators was also observed in other Group’s companies. The income of Penkių kontinentų komunikacijų centras, which offers Penki IPTV and Internet, and outsourcing IT services ProfIT, grew by 6 percent compared to the same period last year.

Penki Kontinentai is an international group of companies working in the areas of banking technology and retail business, innovative payment solutions, fiber-optic Internet, IPTV, and outsourcing services.

The main companies are BS/2, Penkių kontinentų komunikacijų centras (Penki and ProfIT), ASHBURN International. International banks, financial institutions, retailers, and business companies in more than 80 countries use the specialized software and technology solutions developed by Penki Kontinentai. The Group successfully collaborates with leading world companies such as Diebold Nixdorf, Ingenico, Cisco Systems, Unisys, Gemalto / Thales, Microsoft, Arris, and many others.