SAFIRA announces record financial results

Global revenues are growing more than 60% and international business reaches 75% - SAFIRA has been developing projects in 15 countries of 4 continents, including Angola, Germany, United Arab Emirates, Switzerland, France, Denmark, Belgium, Ecuador, Colombia and Chile, besides Poland, UK and Spain where it has its own offices. By the end of the year, the company expects to exceed €9 million in turnover, a much higher value than expected (€8 million). Specialization is one of the pillars of this growth - SAFIRA increasingly focuses and positions itself in the areas of BPM (Business Process Management), ODM (Operational Decision Management), Mobility and GRC (Governance, Risk & Compliance), being recognized as one of the major worldwide players in IBM technology.

Luis António, Pedro Penedo, Alexandre CorreiaOeiras, November 5, 2013 - SAFIRA, provider of IT solutions and Consulting Services for the global market, today announced that its international business has reached 75% of turnover. By the end of the year , the company expects that turnover exceeds €9 million, a much higher value than expected (€8 million). In 2012 , it was €7.1 million.

In the first nine months of the year, SAFIRA’s turnover increased 64% over the same period of 2012, representing consolidated revenues of €7.7 million and surpassing the total revenues of last year. Despite the rapid growth, SAFIRA has begun to capitalize the investments made on its internationalization and the profitability also achieved a remarkable rate: in the first nine months of 2013, EBITDA was 15 %.

According to Pedro Penedo (in the middle of the photo with the 3 Partners), "The growth of the company, essentially during the last three years, is largely due to the export of specialized services with high added value, mainly in the areas of BPM (Business Process Management) , ODM (Operational Decision Management), Mobility and GRC (Governance Risk & Compliance). The investment in Microsoft and IBM technologies transformed SAFIRA in a center of excellence with an outstanding international recognition and an example of how to do things the right way."

Both Portugal and Poland registered a solid growth, in line with the company (55% and 43%, respectively), and represent the basis of SAFIRA’s international operations - the majority of business is in near-shoring model and teams are resident in these countries. The UK office is also playing a leading role in SAFIRA’s results - a region that has tripled turnover in the last three years and now represents over 25% of SAFIRA’s global business. Germany is another strategic geography that has achieved a remarkable growth, so it is natural to open an office soon, possibly early next year.

As part of a risk reduction strategy, SAFIRA has diversified its investment beyond the traditional "Banking and Insurance", conquering new customers and increasing the market share in existing ones, such as TRELLEBORG, BMW, GEODIS, HIPRA and ADENE. Currently , the "Banking and Insurance" sector represents 55% of turnover (a year ago represented more than 70%), which makes SAFIRA less exposed to its volatility. On the other hand , it is a goal achieved without reducing revenues - "Banking and Insurance” registers a growth of 20% over last year, and includes new customers such as the ROYAL BANK OF SCOTLAND , BANK OF CHILE , DAVIVIENDA BANK, MILLENNIUM ANGOLA, LAN & SPAR BANK , ALLIANZ , TUEUROPA and EMIRATES BANK.

SAFIRA maintains its focus on customers that are investing in transformation processes, either by GRC issues, either because they need to optimize operations (reduce costs, improve performance ). GRC is unavoidable in “Banking and Insurance”, but there is a spread of regulatory impositions to other sectors, from public to retail and manufacturing. Financial stress in Europe also imposes the need to find new ways to reduce operating costs, so optimizing operations is another trend that SAFIRA is following.

Regarding GRC, SAFIRA is involved in projects to address compliance with KYC (Know Your Customer), FATCA (The Foreign Account Tax Compliance Act) , BASEL and SOLVENCY . In the optimization area, SAFIRA is working on the process layer creation (BPM) over LOB systems (Line of Business).

The use of BPM suites for process modelling, together with ODM technology for decisions modelling, SOA (Service-Oriented Architecture) for LOB systems integration and ECM strategies for paper elimination, have been producing notable results in our clients business.

SAFIRA shall close the year with a team of 200 employees (140 in 2012).

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member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.