15 april 2014
MAYKOR reports 2013 earnings with 15.7% growth year-over-year
MAYKOR, a leading Russian provider of IT and business process outsourcing services, today announced results for the 2013 fiscal year ended December 31, 2013. The company’s 2013 earnings totaled 9,275 billion rubles, a 15.7% increase over 2012 revenues. Two business lines were instrumental in contributing to the company’s growth: retail produced 48.7% of the total income while the public sector generated 18.5%.

MAYKOR’s customer base grew 20% and key accounts are represented by large and medium-sized companies, similar to previous years. The number of MAYKOR service specialists expanded by 27% to more than 4,000 people across 83 branches throughout the country.

"In the last year, organizations in Russia made significant investments to ensure seamless operation of the existing infrastructure and improve its efficiency, and this will become even more pronounced this year. Moreover, there is a growing need for cost and resource savings. As a result, we are seeing a large demand for outsourcing which has allowed MAYKOR to keep growing steadily even at a time of economic stagnation. As an innovative company, we have taken the next step - development of packaged outsourcing solutions that alleviate the need for clients to implement or purchase anything; instead customers get turnkey cost-efficient solutions that come with all necessary equipment and systems. This allows customers to hit the ground running and get easy access to all business information they need, all through a single monthly bill. These business solutions as a service offered by MAYKOR include "automated workplace as a service", "fleet management as a service", "archiving and document control" and others that will enable our clients to save 20 to 55%," noted Sergey Sulgin, MAYKOR President.

Historically, the outsourcing services offered by MAYKOR were mostly in demand among geographically distributed retail companies, fuel retail businesses, financial institutions and telecommunication businesses. Retail companies and banks utilized MAYKOR for outsourcing of support of their employees' automated workplaces and office equipment, and many of them outsourced their entire IT infrastructure. MAYKOR's customer base in this area includes Ecco, Kari, Accessorize, K-Rauta, Sportmaster, cell phone retail chains Svyaznoy and Megafon, Svyaznoy Bank, transportation company Lorry, fuel retailers such as gas stations Gazpromneft, Lukoil, and Rosneft.

Many clients supplemented IT support outsourcing with MAYKOR’s other outsourcing services such as maintenance of special industrial equipment: banking equipment, franking machines, fuel pumping equipment (gas stations), retail equipment and building utility systems (fire alarm systems, HVAC, etc.). For telecommunications operators, in particular Rostelecom and Vympelcom, MAYKOR provided technical maintenance of their telecommunication facilities.

Increased demand for IT outsourcing from public agencies became a growth factor for MAYKOR in 2013 and the following agencies became MAYKOR's clients: Federal Bailiffs Service, the Russian Federation Ministry of Economic Development and Rosimushchestvo.

MAYKOR also achieved significant expansion through high growth companies. Last year many clients grew rapidly: they entered new regions and expanded their own networks of branches. The IT support service for launching new stores and subsequent technical maintenance were very much in demand among such companies. As a result, MAYKOR gained contracts with companies such as Detsky Mir, Otkrytie Bank, Obuv.com and KIT transportation company.

In 2013, MAYKOR's service portfolio added a number of new business lines. One is the aforementioned "Business Solutions as a Service" and Business Process Outsourcing (BPO). In August 2013, MAYKOR obtained an investment in the amount of 100 million dollars from a consortium comprised of RDIF, EBRD and Capman. This transaction proves that the MAYKOR's business model is efficient with a tremendous outlook. An integral part of it is a unique automated system for service jobs management and resource control. The system received the "Time for Innovations 2013" award organized with the help of the RF Ministry for Economic Development and the RF Ministry of Telecommunications and Mass Media.

Based on 2013 achievements MAYKOR made the list of Top 100 outsourcing companies worldwide (The Global Outsourcing 100) compiled by the International Association of Outsourcing Professionals (IAOP). This is the first time a service company that operates only in the Russian domestic market has made that list.
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