Romanian software company TotalSoft posts EUR 18.4mln turnover in Q3, expands to Austrian market by yearend

Software producer TotalSoft posted a turnover in excess of of EUR 18. 4 million at the end of the third quarter of the current year.

 The majority of the turnover (76 percent) came from the Romanian market, while the rest from the company’s projects abroad.

 The product that generated the highest sales was the Charisma ERP, that produced revenues of nearly EUR 13.7 million, which represents 74 percent of the turnover.

 TotalSoft has a market share of 14 percent on the ERP market, the total value of this market in stagnation being EUR 100 million, according to a study of Pierre Audoin Consultants.

 At the moment, TotalSoft has offices in Bulgaria, Grecia, Serbia and Qatar.

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By the end of the year, the company plans to expand its footprint to the first Western market, by opening an office in Austria, where it will invest EUR 300,000 and expects to reach break-even one year since opening.

 TotalSoft estimates it will post in 2011 a consolidated turnover in excess of EUR 25 million, which represents a 15 percent growth on last year. Also, the company estimates it will reach a consolidated EBITDA of EUR 4.2 million.  

 Three years from now, TotalSoft plans to reach the EUR 50 million turnover threshold, and a profitability rate of 20 percent, which translates into an EBITDA of at least EUR 10 million.

In picture: Liviu Dan Dragan, CEO of TotalSoft

Otilia Haraga