According to the article in today’s daily Dziennik, ComArch is intensifying its marketing efforts on US market with its ERP products for SMEs. The first contract was signed already with Krak Imports, a company dealing with food imports from Poland. As stated by ComArch’s deputy CEO Zbigniew Rymarczyk, the company wants to conclude 5 of such contracts this year and in the perspective of the next ten year have 1-2% market share in this segment in US and also in Germany. According to Janusz Filipiak, the controlling shareholder and the CEO, in 2-3 years time export sales should constitute 50% of the revenues.
Our view: We believe the article could have some positive trading impact. Expansion in the US and Germany has been declared recently as the main strategy targets and it looks that it is consequently implemented. The export target declared by Janusz Filipiak, understood as share in total sales, is much above our expectations. However, we believe that it should be understood rather as percentage of sales of services and proprietary software, as sales of hardware are very difficult to predict. In such understanding, in our opinion, the target looks ambitious but realistic.