2021 summary

2021 was a very successful year for Transition Technologies PSC. While many industrial sectors were still facing difficulties resulting from the effects of the global pandemic, the IT industry dynamically grew. Modern solutions and technologies have proved to be an effective remedy for new challenges related to functioning in a new reality dominated by the progressing digitization processes.

“Companies that invested in digitization processes during the pandemic are definitely moving forward with their projects. They expect these changes to enable cost reduction and speed up operations such as data analysis. Although domestic companies still have some catching up to do compared to foreign counterparts, it is clearly visible that investments in digitization are continuously accelerating. A growing number of companies also include them in their enterprise development strategies. Global industrial companies, already more advanced on their way to digitation, focus more on increasing the scale of investments – says Konrad Dróżka, Chief Revenue Officer and member of the board at TT PSC.

Transition Technologies PSC undoubtedly used this potential, achieving record financial results (revenue of PLN 167 million), which means an increase of over 50% y/y. Net profit in 2021 increased by 77%, reaching PLN 14.6 million (PLN 8.2 million in 2020), and EBITDA increased by 53%, to PLN 20.9 million from PLN 11.2 million in 2020.

It was possible thanks to the consistent implementation of the business strategy, based on long-term cooperation with customers and partners operating globally in stable economic sectors.

To operate even more effectively and to continue growth across global markets, Transition Technologies PSC expanded its international structure with another subsidiary – Transition Technologies PSC France SAS. The company’s organic growth also accelerated thanks to the first acquisition. In 2021, TT PSC signed an investment agreement to take over the controlling stake of the Algomine – a polish company specialized in using the potential of technologies such as Big Data, machine learning, artificial intelligence, and cloud solutions.

Expanding our offer with new technological areas is crucial because thanks to it we can operate even more effectively, to an ever-greater extent. This is our response to the growing needs of customers focused on long-term cooperation in the field of comprehensive digitization. ” – says Szymon Bartkowiak, CEO of Transition Technologies PSC.

The company also recorded significant growth in the area of employment. At the end of the year, Transition Technologies PSC consisted of 727 people, with over 10 percent from outside Poland. Opening recruitment to new markets is crucial for the company to achieve recruitment goals more effectively, but what’s even more important, support the natural development of a multicultural team.

“To sum up, despite the ongoing turmoil in the global markets, which resulted mainly from the ongoing pandemic, we have had an excellent year, both financially and from a business development perspective. We maintained a dynamic increase in revenues, opened another subsidiary – Transition Technologies PSC France SAS, continued cooperation with clients and strategic partners, and acquired new ones. Our goals for the upcoming years are very ambitious, and the chances to reach them, thanks to the growing demand for reindustrialization and digitization services, look promising. Our orders from Western Europe and the USA are already at record levels. IT industry is in an upward trend, and the sectors in which we operate are proving to be resistant to market and political turbulences – emphasizes Szymon Bartkowiak.