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We publish the ESG report for 2021
In the annual non-financial report, we present our activities in the Environmental, Social and Governance areas. The presented report is the second non-financial report (ESG) prepared and published by Transition Technologies MS SA together with its subsidiaries: Transition Technologies Managed Services LTD (UK) and TTMS Software Malaysia Sdn. Bhd (Malaysia). It was developed in accordance with GRI Standards (“in accordance”) in the “core” option. It covers the year 2021, i.e. the period from January 1, 2021 to December 31, 2021. It was not subject to external verification by an auditor, but the company made every effort to ensure that the information presented in it was accurate. The report’s website and the entire document can be found here: TTMS ESG 2021
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TTMS Nordic – our official Danish branch
Today we can officially announce, that we have our representative office in Denmark. ConCor, owned by TTMS, changed its name to TTMS Nordic. Thanks to their knowledge of the Danish and Scandinavian market as well as project experience, we can implement joint plans. TTMS Nordic focuses on Salesforce, Adobe Experience Manager and Microsoft solutions. Its aim is to support Scandinavian companies in the implementation of comprehensive, but also non-standard projects. TTMS Nordic is also an expert in the Agile methodology: Scaled Agile Framework (SAFe), allowing for efficient management of teams in large organizations. In October 2021, Transition Technologies MS took over the majority stake of the Danish company ConCor A/S, specializing in the sale of IT services to large and medium-sized companies in the region. The takeover of the company is in line with the TTMS development strategy in the area of foreign acquisitions. TTMS Nordic website: www.ttmsnordic.dk TTMS Nordic profile on LinkedIn: https://www.linkedin.com/company/ttmsnordic/ https://youtu.be/5Ctbg_BfvzU
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TTMS is growing dynamically and continues preparations for its stock market debut
Outsourcing of IT and business services in Europe reached a record level in 2021, and one of the beneficiaries of the growing demand for IT outsourcing services is Transition Technologies MS S.A. (TTMS), a provider of modern IT outsourcing for global corporations. After the first three quarters of 2021, TTMS recorded strong double-digit growth in sales (+26% YoY) and profitability (+49% YoY). These excellent financial results are the result of continued focus on international projects in stable economic sectors, expanding existing framework agreements, and acquiring additional foreign orders. The next step in TTMS’s development is to conduct a public offering on the Warsaw Stock Exchange (GPW). (more…)
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We are acquiring a majority stake in ConCor A/S in Denmark
Transition Technologies MS S.A. (TTMS), a rapidly growing provider of modern IT outsourcing for renowned global companies, has signed an agreement to purchase 56% of the shares in the Danish company ConCor A/S, a recognized IT outsourcing provider in Scandinavia with 19 years of market experience. The acquisition of the majority stake is part of TTMS’s strategy to expand its international sales network. According to the Management Board, the transaction will strengthen TTMS’s presence in the Danish market and other Scandinavian countries. The transaction is financed from TTMS’s own funds. By the end of 2021, TTMS plans to conduct a public offering and debut on the main market of the Warsaw Stock Exchange. Established in 2002, ConCor has a solid position in Denmark, with revenues amounting to approximately EUR 3.5 million in 2020. The company specializes in providing IT services to large and medium-sized businesses in the region and is a long-standing technology partner of Salesforce and an expert in Agile methodology: Scaled Agile Framework (SAFe), which allows for efficient management of team work in large organizations. ConCor fits into TTMS’s development strategy in the area of foreign acquisitions. The company’s business model aligns with TTMS’s operating methods, and its technological profile matches its key competencies. The high demand for modern IT outsourcing in Denmark creates an opportunity for the growth of such initiatives. Services provided jointly by TTMS and ConCor will be based on near-shoring from Poland (i.e., outsourcing services to geographically and culturally proximate regions) within efficiently cooperating Polish-Danish teams. The transaction with ConCor A/S is a significant step in the implementation of our development strategy. Through the acquisition and utilization of identified synergies, we aim to build our position not only in Denmark but also in other important Scandinavian markets. We assess the demand for TTMS and ConCor’s competencies as very high. Scandinavia is home to many international corporations and potentially interesting projects for us. ConCor has many years of experience in the IT industry, is well-acquainted with the local market, its specifics, and work culture. Meanwhile, TTMS continues its rapid growth in the number of new hires. We believe that together we can reach a significantly larger number of clients, strengthen our brand, and acquire more high-margin projects. The Danish company is an attractive player, debt-free, with competencies that largely overlap with ours. We want ConCor to be our window to the local markets. The transaction will also bring us closer to achieving our goal of becoming a global IT services provider,” says Sebastian Sokołowski, President of the Management Board of Transition Technologies MS S.A. Potential of Foreign Markets Scandinavia, the Nordic countries, along with the DACH countries (Germany, Austria, Switzerland), and the United Kingdom are key regions where TTMS aims to scale up its business in Europe. Outside Europe, TTMS is also expanding in Malaysia, where through its subsidiary it reaches the Asian and Australian markets. The Group’s international offices are located in the USA (San Francisco and Tampa), Austria, and Singapore. TTMS also holds the status of an R&D Center in France, a result of long-term cooperation with one of its largest industrial sector clients, Schneider Electric.
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We publish the first ever TTMS ESG Report on environmental, social and management issues.
Transition Technologies MS S.A. publishes its first non-financial ESG report on environmental, social and management issues TTMS took less than six years to become a global company. Such dynamic development means challenges the nature of which is not only reflected in financial data. Therefore, although we are not legally obliged to do so, we have made a decision on non-financial reporting. ESG reports will provide insight into our management method and information about the impact of our activities on the broadly understood environment. Green energy-powered offices By 2025, TTMS plans to become climate neutral. It is a state where possible greenhouse gas emissions are offset by the removal of carbon dioxide from the atmosphere. The TTMS Group has been estimating its carbon footprint since 2019. In 2020, it issued approx. 170 thousand. tons of Co2 into the atmosphere, by 7% less than a year earlier. By 2025, emissions should be close to zero, allowing for carbon neutrality. The company is working on the implementation of the ISO 14000 environmental standard, which will help it control the quality and scope of the pro-ecological initiatives introduced. As a provider of modern IT outsourcing, TTMS tries not only to minimize the carbon footprint, but also to use technologies to reduce emissions. In the cities where the company has offices, tree plantings are planned to reduce urban heat islands and numerous ecological projects, including the protection of wetlands and peatlands, which help to retain water, bind carbon dioxide and constitute a valuable ecosystem for the entire planet. Global reach, local specialists Since its establishment in 2015, the TTMS Group has increased employment six times (by 586 percent), expanded its international structures and increased its sales twelve times. In 2020, the TTMS team consisted of over 530 experts – most often they are programmers, system architects, testers, project managers and people dealing with direct customer support. Acting globally, the Company cooperates with IT specialists mainly in Europe and Asia. Their employment is handled by an international HR team, thanks to which the Company has access to foreign labor markets. The company invests in a new generation of IT specialists. As part of cooperation with universities, it offers students internships or academies dedicated to a specific technology, after which participants find permanent employment at TTMS. The company reaches students with the offer of internships through internet portals and by taking part in such events as job fairs, organized webinars or open days. Data security and better management Data security is of key importance in the operation of TTMS. The company uses the most advanced specialized IT solutions and systems as well as above-average measures in the field of broadly understood information security. They are based, inter alia, based on ISO / IEC27001 standards – Information Security Management System, which obliges TTMS to conduct annual audits and continuous quality control of the systems. Cooperation with international organizations from the pharmaceutical and defense sectors requires the fulfillment of additional procedures, an example of which is the PSCI (Pharmaceutical Supply Chain Initiative) accreditation obtained by the Company, confirming the fulfillment of a number of requirements allowing work in this industry or obtaining a license from the Ministry of Interior and Administration, which defines work standards in distribution and distribution projects. development, implementation and maintenance of software for the police and the army.
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We want to expand the foreign sales network, acquire additional customers and increase the range of operations.
Interview for Portal Parkiet. Answers Sebastian Sokołowski – President of the Management Board of TTMS What is the company’s activity? Is it mainly about outsourcing IT services? TTMS is a provider of modern IT outsourcing, specializing in managed services, offering complete teams of experts for the world’s largest corporations. We operate in the following sectors: pharmaceutical and medical, industrial, educational, as well as in the defence and space industry, which are characterized by a high entry barrier. We consistently implement the strategy of dynamic and continuous development, which requires us to use various available opportunities. We focus on constant organic growth, foreign acquisitions, and now it’s time for another important step – debut on the stock exchange. We believe that the market situation is favorable for companies in our industry. There is a very large shortage of employees, because the digital transformation has accelerated. , Increased demand for IT specialists affects the increase in costs and difficulties with business scalability. Managers see this problem, which is why companies more and more often decide to use our comprehensive services. There has recently been information about the possible debut of Transition Technologies MS on the main trading floor of the Warsaw Stock Exchange. Where did this idea come from? Was there a need to raise capital? Or is it just about the prestige of the stock exchange? Our stock exchange debut is not only about raising capital, but also about credibility and increased recognition, that comes from being a listed company. The listing on the stock exchange confirms the maturity of the organization. My guess is that the time of the pandemic has significantly increased the demand for the company’s services, and there is no problem with acquiring new customers. But what does it look like from the employees’ point of view? Many companies in the industry are currently struggling with a deficit of hands to work, which is why they even decide to take over other companies. In the IT sector, we have been dealing with the employee market for many years. All IT companies have the same difficulties in attracting new employees. Despite this, we are significantly increasing the number of people employed year by year. This is due to several factors. First of all, we operate globally, we have an international HR team, thanks to which we have access to the labor markets in Europe and Asia. We cooperate with universities. Thanks to this, we have access to students to whom we can offer internships and then permanent employment. We also run a proprietary training program, that allows us to expand the teams in our core competencies. We also develop organically. We set up new offices and create subsidiaries. A very successful project turned out to be the establishment of the daughter company TTMS in Malaysia, which not only has dynamically developed in a few years, but is also a window to the Asian labor market. What is the order backlog for this year? I believe that the current situation of the company is very good. We have launched purchasing processes of foreign companies. We monitor the market and talk to potential candidates. I do not exclude the possibility of completing the purchase process before the stock market debut. Thanks to this, we want to expand the foreign sales network, acquire additional customers and increase the range of operations. The TTMS order book does not include the exchange of contracts. We have trusted long-term clients, very often the projects we work on last for years. Of course, this does not change the fact, that as a result of significant changes taking place on the market, we also try to renegotiate our contracts. What are the company’s long-term plans? A potential stock exchange debut, I also see that the company pays a lot of attention to ecology, maybe some involvement in such projects? We attach great importance to sustainable development, which is why we plan to publish an ESG report on our activities for 2020 in the near future. In 2019, we launched the TTMSgoesGreen project, which aims to continuously reduce the carbon footprint of the company. Our goal is to become a zero-emission company. We focus on the use of “green energy”, we apply low-emission solutions in our offices and we conduct compensation activities, e.g. tree planting campaigns.
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