FINANCIAL REPORT

Continous year-to-year increase
of revenues and incomes

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The excellent results from the previous year are the result of a number of factors.

Martin Vlčko
Member of the Board of Directors and Financial Director

In 2015 SOFTIP confirmed again a long-term strong position within the field of information and communication technologies in the Slovak market, achieving a continous year-to-year increase of revenues and incomes.

For SOFTIP, from the point of view of achieved business results, 2015 was the best year in its history. In 2015 the company manifested a positive economic result, income before tax of EUR 2 341 thousand, overcoming the exccelent results of 2014. In the value of revenues, there was a growth of more than EUR 500 thousand, in comparison to the previous year, mainly in the area of own services sales. The total amount of achieved revenues reached EUR 13 831 thousand.

The excellent results from the previous year are the result of a number of factors.

Except for stressing the effectiveness of our internal processes and strong sales strategy the success was mainly due to our manifold offer, uderstanding of customers and our ability to adjust respective solutions to their specific requirements. SOFTIP definitely confirmed its competency as a multifaceted supplier and partner for small and large customers.

Except for the long-term leader position in the field of SAP Business One sales we manifested a significant increase in the area of infrastructure services, production management and wages outsourcing. The key factor is that during 2015 we carried on with the strategy of investments into our products and development of new solutions and innovations, bringing several new and interesting solutions to the market. The same applies also for the year 2016. We expect to succeed in the market by bringing another new solutions that we have been developing, as well as to stay the same reliable partner for our customers that they have known for over 25 years of our existence.

The company is financially stable, thereby creating the foundation needed for the fulfilment of its development strategy and sustainable development. The company utilised sources of credit financing in an appropriate and healthy level during the year.

Nearly all financial indicators recorded significant positive growth compared to previous years. A positive result is the mentioned repeated total increase of revenues of more than EUR 500 thousand, in comparison to the previous year, thereby allowing SOFTIP to confirm its position as the largest Slovak producer of ERP systems in Slovakia. The total produced added value reached a tremendous number, so please allow me to put SOFTIP in among the most important companies with a positive impact on all of Slovakia's regions in terms of its positive impact on the economy, the business environment and employment in Slovakia.

The independent auditor's report declares that the financial statements as at 31 December 2014 provide a fair and true depiction of the company's financial situation.

The company does not record any overdue liabilities as of 31 December 2014 and its consistent ability to make all payments was once again confirmed by the company's confirmation of registration on the list of qualified companies published by the Public Procurement Office.

Balance Sheet

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Income Statement

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Independent Auditor´s Report