TotalSoft posts EUR 16.8mln turnover in Q3, has new acquisitions under way

TotalSoft, part of Global Finance group, posted a turnover of EUR 16,764,700 at the end of the third quarter, which represents a 15 percent growth compared to the similar period last year. A ratio of 74 percent of the company’s revenues come from the Romanian market while the remaining 26 percent come from the TotalSoft foreign offices.

The best-selling solution provided by the company was Charisma ERP, a system that generated sales of EUR 12,741,172.

This year TotalSoft proposed to expand aggressively on foreign markets and has already opened branches in 4 countries- Bulgaria, Greece, Serbia and Qatar, following investments of EUR 200,000- EUR 300,000 per each office. The company estimates it will achieve break even in a year since the launch of these offices.

“We are a company that is expanding but we are not perceived as an international company right now. Our aim is to become an international company,” said Liviu Dan Dragan (in picture), GM of TotalSoft.

TotalSoft was also involved in projects carried out in other three countries- Austria, Dubai and Saudi Arabia.

TotalSoft is currently in the process of acquiring a total or at least major share package in two companies, one in Turkey which will be finalized by the end of this year, and one in Poland, which will be completed by Q2, 2011. “Realistically speaking, we would expect that all acquisitions will lead us to an investment of EUR 30- 50 million,” said Dragan.

Over the next 3-5 years, TotalSoft is looking at opening new offices in Western Europe, more precisely in Germany and Great Britain.

Company representatives said they estimate TotalSoft will end 2010 with a turnover of EUR 22.5 million, which would represent 15 percent growth on the previous year. They also forwarded a figure regarding the expected turnover that the company will post in 2011, which is EUR 25 million.

TotalSoft is part of private investment fund Global Finance which administers funds of EUR 850 million.