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Bigger business volume lifts 4iG profit 34% in H1

A bigger order book lifted listed IT company 4iGʼs first-half after-tax profit 34% year-on-year to HUF 775 million, state news wire MTI reports, citing an earnings report released on Friday.

4iGʼs net sales revenue jumped 39% to HUF 20.2 bln.

The company noted that its stock of orders exceeded HUF 20.8 bln in mid-August.

4iG said its management aims to achieve "further significant growth" over the next one-year period, both organically and through acquisitions.

In an investor presentation released with the report, 4iG said it aims to become the leading IT system integrator in Hungary "within the next two years". 4iG plans to consolidate its position in the country, invest in new technologies and "enhance our capabilities in new sectors".

4iG added that it is looking at acquisition targets in the CEE region that could be financed with a combination of bonds or loans and its own cash resources.

4iG said its business growth would "normalize" and augured topline growth of "around 20%+" in 2020 and "around 10%+" beyond 2020.

The company targets an 8-10% EBITDA margin in the mid-term.