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Business Summary: Satis Group SA, formerly iAlbatros Group SA, is a Poland-based holding company engaged in the information technology (IT) sector. Through its subsidiaries, the Company provides IT services and software solutions to businesses. The Company's subsidiary, Satis GPS Sp z o o (Satis GPS), offers a vehicle positioning and fleet management system based on global positioning system (GPS) technology. The SATIS system supports cost and efficiency planning with its data analytics feature. Its additional functionalities include tracking field employees, monitoring fuel levels and automatic alerts about accidents on route. Other projects of Satis GPS include the Electronic Surveillance System, implemented for the Ministry of Justice and used for monitoring the whereabouts of a sentenced person with a special electronic bracelet, and CommandX, a crisis management platform enabling coordination of rescue and law enforcement services. It offers its products domestically and internationally.
Financial Summary: BRIEF: For the nine months ended 30 September 2023, Satis Group SA revenues decreased from PLN2.2M to PLN0K. Net loss decreased 43% to PLN263K. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects Other Operating Income increase from PLN1K to PLN227K (income), General administrative expenses decrease of 16% to PLN488K (expense).