The Etnetera Group: turnover of 315 millions CZK and other acquisitions
Digital group Etnetera Group has reached a 15% increase in turnover during last fiscal year, totaling at 13 million USD with the operating profit of 1,65 million USD. Agency Motion Media was acquired to strengthen the creative branch of the group.
Etnetera Group a.s. is a group of 6 technological and creative companies that share company culture and entrepreneurship values. Its purpose is to help clients in the world of online business and to support them during a digital transformation period. It provides services ranging from mobile and web development, digital communication, brand strategies, to advanced data analytics. The group was created 5 years ago by the oldest technological company Etnetera a.s, a major custom web and mobile development player in the region. The group has further grown through spin-offs and later acquisitions.
The most successful company of the group in 2015 was Etnetera a.s. The firm’s turnover makes almost 60% of the group’s results. Operating profit of Etnetera a.s. was 32.3 million CZK. It means that last year results were doubled.
The growth of turnover was also acquired by data analyst company Etnetera Activate, media agency Fragile media and creative agency Etnetera Motion. The last one was created in the fall by merging of the teams of Etnetera Vision and of Jiří Janoušek’s and Dan Müller’s digital agency Motion Media. The cooperation with other companies from the group brings opportunities for expansion in the area of big clients. This year’s operating profit is affected by the cost of the acquisition.
After the Letsgood company fulfilled its mission to speed up and strengthen Etnetera a.s.’s mobile development, they left the group to pursue their own platform development.
Mr. Václav Bittner, a member of the Board of directors, says that there are possibilities of further expansion of Etnetera Group: “We are still checking the market and we are looking for the best option of potential acquisition that would enhance our business group. The most interesting companies are technological ones and those that specialize in mobile and server programming and data analytics.”
The group has been located in Holešovice harbor since February 2015. Its new common office space won the competition CBRE Meeting room of the year, category Offices for future challenges. The most appreciated part of the offices is the café-like space The Hub, designated for coworking, meetings, seminars, and parties.
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