Fabrity stays immune to COVID-19
“The first half of 2020 introduced highly unexpected events that had put to test several businesses including Fabrity. It seems that we passed the test with flying colours, and we hope to perform even better in foreseeable future.”
Tomek Burczyński, CEO
Due to governments’ lockdown decisions, many organizations had to reorganize their work models profoundly. Many companies decided to freeze several projects affecting orders flow. Despite the many challenges we witnessed in the first half of 2020, we showed outstanding financial results for this period – to name the few, revenue dynamics is +51.5%, and EBIT is +18.4 % (YoY).
The level of cooperation makes a difference
The majority of our clients have been cooperating with us for a long time, entrusting us with meaningful projects that are frequently essential to companies’ operations—this approach is mutually beneficial. Clients can focus on their core business instead of investing in internal IT staff, and Fabrity gets secure income and long-lasting ‘high end’ clients. Of course, this kind of relationship had to be earned by the highest quality of delivered solutions. This set up shown to be of great importance during COVID-19 and gave a tangible result in the H1 report. Nevertheless, it has to be said that we did not have many clients from most affected market areas such as airlines, tourism, or events. However, we cooperate with the automotive industry, and we noticed a few order cuts in that area. We strongly believe that we will come back to all projects suspended during these challenging months.
Remote work is not something new
“During the lockdown, we realized that we are perfectly ready to switch to the remote work model. Not only in terms of tools but also in the organization’s culture. We are proud of our teams and the way they swiftly handle remote work.”
Rafał Graboś, Vice CEO
As an IT company with a number of offices in Poland and clients worldwide, we work in remote teams on a daily basis. To be frank, moving out of our offices was faster and easier than we expected. All tools required were there – both internal and those used to work with clients. None of the cooperation conditions were changed. The only notable difference was that we missed morning coffees and meeting each other face to face. Nowadays, we are working two days in the office which seems to be the right solution for cooperation and protection against COVID-19.
We won great deals
In the H1 we started significant MedTech and Life Science projects, namely a telemedicine project with a Polish partner and long-lasting cooperation with one of the leading Life Science companies from the US. We also launched other notable projects, one involving Polish railway infrastructure and another in the public sector in one of the southern European countries. Looking at newly opened cooperation compared with those put on hold, it becomes clear why our H1 results are that good.
Fabrity acquired K2 Digital Products
This year Fabrity got the privilege of acquiring K2 Digital Products, the company being part of the K2 Group. Blending in K2 DP into Fabrity’s structures not only secures our need for IT specialists but also helped us to improve our offer and competences. The two most similar entities within K2 Group joined forces to perform better together. We happily welcomed designers and marketing strategists experienced in inventing and optimizing products and services. The second field of expertise of K2 DP was complex e-commerce consulting and optimizing, ranging from early design stages through implementation, marketing, and promotion ending on high-performance hosting.
To sum up
The first half of 2020 introduced several new challenges no one was expecting. We managed to overcome obstacles, gain new deals, and show outstanding financial results. Moreover, we acquired new assets due to acquiring K2 Digital Products company. All that gives us peace of mind to look at the second half of the year, and confidence that whatever is ahead of us, we will adjust and take most of it.