The quarterly report published on 14 May 2020 brings good information on the company's results. The strong upward trend from last year was continued. It is worth emphasizing that revenue increased by 42% compared to the same period in 2019. All planned projects were completed on time. The beginning of the COVID-19 pandemic, which took place in March in Europe, did not affect the quarterly results, and the company's proper financial standing enables it to prepare for the challenges arising from current and forecast economic turmoil.
Investments in infrastructure and operating procedures in line with standards are significant. Once again, we have tangible evidence that this is an essential element to ensure the highest standards of operation. However, I want to emphasize that our employees played a crucial role in the process of adaptation to activity in a pandemic. We quickly adapted to the new conditions in which we function and make the full commitment. Without understanding the seriousness of the situation and changing the work model it would not have gone so smoothly. This, in turn, would not allow for such good results in the first quarter. MakoLab organizational culture is essential to us, we are working on it, and we see the effects.
emphasizes Wojciech Zieliński, President of the Management Board of MakoLab SA.
We are closely following the economic situation and forecasts. I am fully aware of the uncertainty and volatility in the company's environment. The recession affects virtually every sector of the economy and, of course, also our clients. We are in constant contact with them, and we talk about ongoing projects and further plans. We don't know what the "new normality" will look like and when it will happen. We also consider negative scenarios resulting in the risk of a decrease in revenues and deterioration of profitability in future periods.
says Wojciech Zieliński
With all the seriousness of the current situation and the uncertainty of tomorrow, it must be clarified that the changes taking place in the economy open up many new opportunities for companies with our business profile. MakoLab provides digital business solutions that, for many companies, are becoming faster, no longer alternative, but necessary business management tools. We see this opportunity and prepare to respond to it. We carry out previously planned development activities, which includes starting work on the implementation of the ISO 9001, 20000, 22301 standards. They will enable us to fight for orders from global players for prestigious and high-budget projects more effectively. We have launched an internal program for reviewing and developing our services and products for new market needs. We are looking forward and long-term, despite the undoubted economic crisis.
says Wojciech Zieliński
Head of Communication & Business Development at MakoLab