Warsaw (Puls Biznesu) – Eurofaktor is doing its best to fulfill the financial forecasts. It may fail because it invests a lot.
The new strategy of Eurofaktor, the only factoring company listed on the Warsaw Stock Exchange, will positively affect the company’s results in the middle of next year. For the time being, it mainly means costs because the company develops its network, implements new products, trains its staff and starts cooperation with new partners.
“Our basic aim is to diversify income. We want to have equal income from factoring, retail credits and mortgage loans”, Tomasz Tomaszewski, the new CEO of Eurofaktor said.
He added that it will take two years to achieve these plans.
“We want to offer full factoring services to banks who have not their own specialized companies or departments. We are about to sign a letter of intent with the firs bank. We’d like to serve five financial institutions. This would make our volumes jump”, Tomasz Tomaszewski explained.
Eurofaktor specializes in companies with sales of up to PLN 30m (EUR 7.9m), i.e. small and medium-sized and wants to cooperate with banks which have similar clients.
The planned investments will cost PLN 3.3m. Eurofaktor may not meet the forecast made by its previous management though.
(PLN 1 = EUR 0.262)