The market for IT projects implemented for the financial sector is experiencing turbulent times. As often happens in such situations, some companies are forced to restructure their costs and reconsider project capabilities, while others may take advantage of the situation to expand and strengthen their position in this market niche.
Although our company has shown a slight decline in its 2022 results, it’s important to note that we experienced significant revenue growth last year. Therefore, the current decline can be considered a slight correction. The main reason here is the significant restructuring in the IT market itself, which is focused on financial sector projects.
We are pleased that we have retained all our key financial clients. We are confident that they will all return to active operations. The financial sector is a critical area, as it affects not only large infrastructure companies but also ordinary consumers and individuals. Reliable and stable operation of all services, equipment, and software is crucial in the current market situation. This necessitates special attention to revising technical solutions toward import substitution, as well as developing new ones.
The unprecedented pressure on Russian IT businesses due to sanctions has nevertheless demonstrated that our market is resilient and ready to change and adapt at any moment, regardless of external challenges.
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