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IT security firm Intellio plans to more than double turnover in 2010

Intellio Kft, which develops and produces IT security systems, projects to more than double its sales revenue from HUF 142 million (€535,368) in 2009 to HUF 300 million in 2010, Intellio managing director János Kopházi told MTI.

The company expects to generate the turnover increase from its intelligent motorway-monitoring system and face-recognition camera system.

The company generates 40% of its revenue from export markets, including the United Kingdom and Italy. Kopházi said the percentage of exports within total sales is expected to rise to 60% in 2010.

Intellio Kft, which was set up in 2005, implemented investments worth a combined HUF 540 million by 2009 with the help of venture capital firms. The company is now financing its own operations. Sales revenue amounted to HUF 80 million in 2008. Intellio recorded EBITDA losses of HUF 77 million in 2009, but became profitable in the fourth quarter, Kopházi noted. (MTI – Econews)