In April 2020, Gloster carried out a private capital increase in BSE's Xtend market, in which it raised about HUF 1.1 billion in funds. As a leading investor, Széchenyi Funds acquired a 24.65 percent stake. 764 million forints were invested in our company at the exchange rate of HUF 200, part of which has already been sold at HUF 850 in a package of shares worth HUF 210 million.
On the share sale, the fund manager realized an internal rate of return of more than 70%, so more than four times the price gain overall.
Gloster also came into business: last year we closed the most successful year in their history: our sales revenue increased by 30% and our profit after tax increased by 50%.
In the IT industry, it is basically difficult to grow organically. Every company already has IT. On the other hand, IT companies have a greater willingness to sell than in other industries. Gloster has made nine acquisitions in the past three years. The acquisition is emphasized even in our 2025 strategy.
The other strategic goal is to create IT development centers near rural university towns, where we intend to train professionals in cooperation with universities. The first development center in Pécs is planned to expand with 50 developers in three years and thus become one of the major players in the local IT market. The employees of the development center will be involved in the development of Western European software through Gloster GmbH (the recently acquired G-Plus Consulting GmbH).
The Széchenyi Funds apparently believe in the further long-term growth of the company, as it still holds the majority of its share package.
Viktor Szekeres, founder and chairman of the board of Gloster