Mellon Group posts 2010 results

Source: Mellon Group

2010 was an important year for Mellon Group of Companies, which remains in a growth mode despite the ambiguous economic conditions in Greece and the global markets.

The Group's financial figures for 2010 underline its dynamics, with total consolidated turnover reaching €61.7 million (25% higher than the previous year) and improved profits before taxes at €1.8 million.

The participation of the companies outside Greece to the Group's turnover for 2010 was 40%, a percentage that is expected to reach 45% by the end of 2011.

As far as the parent company is concerned, the turnover of Mellon Technologies reached €16.8 million, showing moderate but steady growth for the year.

Briefly, 2010 was characterized by the following achievements:

1. Transaction facilitation solutions:
• The consortium of Mellon Poland and Comarch is equipping the 346 branches of Poland's social insurance carrier, ZUS, with an integrated IT solution, including next generation queuing systems, web and mobile ticket booking platform, as well as content management software for LCD displays at the branches.
• Mellon's subsidiary in Bulgaria, increased its market share in eftPOS terminals selling close to 10,000 terminals. Equally important for Mellon Bulgaria was the implementation and integration of the award-winning campaign management solution, Altitude Unified Dialer, with the existing platform of Raiffeisenbank (Bulgaria) EAD.
• Mellon Solutions in FYROM supported the majority of banks in their migration to the EMV standards, following similar success stories of the Group in Cyprus and Greece from the year before.
• In 2010 Mellon started to cooperate with three new vendors -Verifone, the global leader in secure electronic payment solutions; Fiserv, the leading global provider of financial services technology solutions; and Autonomy, a global leader in infrastructure software for the enterprise.

2. Outsourcing services:
• In 2010, MFP, Mellon's Business Process Management services provider in Greece, implemented for a leading Greek financial institution the new centralized proceessing services for cheques and other documents, whereas there is expressed interest to provide these services in the other countries where the Group is present.
• The Call Center services of the Group enjoyed considerable growth, both with new customers and with new projects from existing customers.
• In 2010 Mellon started new projects with leading European banks in the region, among which Credit Agricole, Unicredit, Raiffeisen Bank and Societe General.

• In 2010, Mellon Poland and Mellon Romania earned a place in the 2010 Europe's 500 List, and were ranked 99th and 133rd respectively.
• Mellon Contact Services was awarded at the Contact Center World Awards under the 'Best Outsourced Contact Center, EMEA' Category.
• The Group, represented by the parent company Mellon Technologies, was awarded at the Horizon Trophy international competition organized by Credit Agricole for the evaluation of cooperating companies - suppliers of the financial group, in terms of their social and environmental policies.

In 2011

Despite the challenging environment of Greece and the global financial markets, the region of Central and SE Europe continues to present considerable business opportunities for Mellon Group of Companies. Especially outside Greece, the majority of the countries are recovering, whereas countries like Poland have not been affected directly from the economic crisis, attracting significant investments.

More cautious, businesses in Greece are now turning towards solutions and services that will help them contain costs, increase their operational efficiencies, and minimize losses from inadequate or obsolete management systems, a trend that gives a head start to Mellon's outsourcing services but also to its vertical software solutions for unified process management.

Finally, for 2011 Mellon Group of Companies expects the growth trend to continue, with improved overall financial results.

Comments: (0)