Software developer Siveco Romania saw a 30% higher than expected turnover growth for 2004, the company officials announced, without specifying how much it was actually about.

According to its previous statements, Siveco registered 711.9bn ROL turnover in 2003 (18.9 million euros calculated at the average exchange rate for 2003).

Nearly half of the 2004 revenues were derived from the sale of eLearning, eHealth and banking solutions (47%), while the Siveco Applications solution generated 42% of this year's revenues. The remaining 11% was derived from the IT services and business consulting.

Siveco representatives see the company attain 30% higher turnover in 2005. They added 75% of the 2005 turnover was already covered in signed contracts.

"The privatisation process numerous organisations in Romania are going through is clearly a factor that drives IT equipment purchases forward," Irina Socol, Siveco Romania general manager says. The EU accession preparations and the necessity to meet the requirements of the internatoinal markets are turning the computerisation of their own systems into a priority for the Romanian organisations, Socol adds. "At the same time, this international opening is an extraordinary growth chances for the Romanian IT companies. "

Data provided by research company IDC mentioned by Siveco show the software developer is the market leader on the Enterprise Application Suite segment with 30.9%. As for the software services (which is a much more fragmented market), Siveco is the leader again, though its share of this market is smaller, 10.5%. Still, IDC says, Siveco is ahead of international software developers like SAP and Oracle.

The company officials say 60% of Siveco's turnover comes from projects conducted for private companies. "This proves that the solutions we p