Get our rare newsletters
Contact GoalEuropeIf you have questions or need a consultation, get in touch.
Polish investment firm and sponsor of this site MCI Management announces new investments and financial results for the first quarter of 2013. This week, we have already been able to deliver news of a deal that they were able to reach which allows them to expand their geographic footprint into Turkey. However, we’re already able to provide a brief update on that situation, as well announce a basket of other news from the firm, including the launch of a service from one of the companies in their portfolio, the announcement of Q1 2013 financial results for the largest company in their portfolio, and the announcement of their own financial results for the first quarter of 2013.
When we first reported on the news about the deal with Turkish firm Indeks Bilgisayar, we noted that the shareholders of Indeks would be voting on whether they would pay MCI a divided on profits from 2012. MCI now tells us that these shareholders did end up voting to pay MCI 1,18 million euro in dividends on profits from the past year. MCI tells us that Indeks generated 163,3 million euro in revenue and 9,56 million euro in gross sales revenue for the first quarter of 2013. The former number represents a 23% improvement over the same quarter from 2012 and the latter number represents a 27% increase.
Briefly mentioned in the Turkey post was the fact that MCI maintains a Czech presence in the form of mobile-gaming firm Geewa. We can now say a bit more about them as we learn that the company has released one of their most popular games, Pool Live Tour, for mobile devices. The game has been launched on iOS, but the company says that an Android version is in the works. The Android version of the game will reportedly be released in just a few weeks. Geewa says that they have 2.5 million daily and 11 million monthly active users for the game through Facebook and its own plaform and claims that it is the most popular pool-oriented game available on the social network. Geewa was founded in 2005 and is currently a part of the MCI.TechVentures fund.
In other news from among their holdings, MCI announces that ABC Data Group, the largest company in their portfolio, saw a 43% Y/Y increase in revenue during Q1 2013. For the quarter, the company posted revenue of 257 million euro and a net profit of 2,59 million euro (52% Y/Y increase). Shareholders are also benefiting from the company’s success, as management has suggested that 7 million euro be paid out in dividends on 2012 profits. Going forward, we are told that the company expects revenue for the year to reach a cool 985 million euro. This would be a 13% increase over the 871,65 million euro in revenue that they reported for 2012. ABC Data Group has been listed on the Warsaw Stock Exchange since July 2010 and MCI controls a 62.54% stake valued at about 53 million euro.
Finally, we are able to deliver some information about MCI’s own financial performance for the first quarter of 2013. For Q1 2013, The company generated a net profit of 2,34 million euro, which is up from 2,24 million euro for Q1 2012 or a 4.2% increase. Its goal by the end of H1 2013 is to top 21 million euro in net profit. At the present time, MCI reports controlling assets worth 198 million euro. This represents an increase from the assets worth 190,2 million euro that the firm controlled at the same time last year (4.1% year-over-year increase). The firm says that their target is for the assets under their control to be worth at least 236 million euro by the end of this year.
+44 (020) 3290 3544
vita at goaleurope dot com