Hungary’s IT market will recover in the second half of 2010, Getronics Magyarorszag CEO Peter Ratkai announced
The incumbent government will not call new tenders and the next government will need time to compile its projects, therefore an upturn should be expected in the second half, also as a result of better use of EU resources, Mr Ratkai said.
Last year was not good for the two Hungarian units of Dutch information- and communication-technology service provider Getronic, Getronics Magyaroszag and regional service center EMEA Tavolsagi Szolgaltato, which won several tenders though did not sign contracts, the CEO said.
The companies generated turnover of HUF 13bn (EUR 47.9m) last year, HUF 1bn less than in 2008, while revenues from outsourcing registered double-digit growth and operating profits were flat. This year, the companies aim to preserve sales revenue and operating profit at their 2009 levels, with Getronics Magyarorszag itself targeting an 8pc growth in operating profit, the CEO said. Operating profits at Getronics Magyarorszag grew by 5pc last year. Mr Ratkai could not provide details about the financial targets of EMEA Tavolsagi Szolgaltato.