The Czech IT company is adhering to its pre-coronavirus plan, which should bring sales of CZK 170 million in 2020. eMan is growing steadily – last year sales were CZK 168 million, compared to CZK 150 million in 2018.
“Although the coronavirus basically froze the whole economy for a while, it also opened the eyes of many companies. It is quite clear now that neither the private nor the public sector can do without digitization in the future. That is why the interest in our services is growing now,” explains Jiří Horyna, CEO and one of the founders of eMan.
In addition to its existing customers such as Škoda Auto, E.ON, Bohemia Energy, MND, and Honeywell, the company also boasts new ones – in the Czech Republic it supplies software to Lesy ČR, ČSOB, and ČEZ, in Germany it works with ConstellR, and in the USA it cooperates with Tenaris.
The Czech company has been operating in the U.S. as eMan Solutions LLC since 2018, when it opened a branch in Houston.
“Of course, the U.S. was hit by the coronavirus significantly more than Czechia, but it is still true that the U.S. market is huge and brings interesting business opportunities for those who are ready,” says Tomáš Čermák, the Marketing Director of eMan.
Going public? In August
Although the company had previously announced that it would enter the stock exchange at the beginning of June, the disruption caused by coronavirus delayed this step by about two months until August.
Preparations are currently under way for the IPO on the PX Start market of the Prague Stock Exchange, which the company expects in mid-August. The goal is to raise up to CZK 50 million. At the same time, however, the current four owners (Jiří Horyna, Tomáš Čermák, Michal Košek, and Jan Horyna) want to remain in control by holding at least 51% shares. Another two and a half per cent is held by employees, and the rest is available to potential investors.
“CZK 50 million is a realistic amount with our position on the market. We already have a very positive response from some big players who see a great potential in our company,” says Jiří Horyna.
During the IPO, eMan is being assisted by the Starteepo Group, which has concluded transactions worth more than CZK 400 million on the PX Start market, and which focuses on small and medium-sized companies.
“I am sure that a company like eMan has a great chance to reach investors. It is a healthy Czech IT company that can successfully sell its products and know-how on both the Czech and foreign markets, including the highly competitive U.S. market,” adds František Bostl, the Director of the Starteepo Group.
The legal firm Havel & Partners has been hired as the legal advisor for the IPO.
All information for investors is available at: www.eman.cz/investori
eMan is a leading Czech provider of mobile solutions. It specializes in the development of mobile and web applications and integrated solutions. In particular, the company targets clients from the automotive industry, banking and insurance, the energy sector, and services. Its portfolio includes names such as Škoda Auto, Honeywell, Edenred, E.ON, ČSOB, Allianz, Generali Česká pojišťovna, and MND. Solutions developed by eMan have won a number of awards, for example the Mobile Application of the Year, Internet Effectiveness Awards, WebTop100, IT Project of the Year, and Golden Crown. In 2018, the original founders acquired a 60% stake in the company from Jablotron, which invested in the company in 2016. The value of the transaction was between CZK 50 million and CZK 100 million. eMan is currently 100% owned by its founders, who also form the company’s executive management board. The company operates not only in the Czech Republic, but also throughout Europe and North America. In 2019, the company’s revenue grew to CZK 168 million.
About the PX Start market
The PX Start market was launched by the Prague Stock Exchange in 2017. PX Start is a market for small innovative companies that are worth more than EUR 25 million and want to raise new capital or whose owners want to withdraw partially or completely from their current business. PX Start offers opportunities to both issuers and investors. It focuses on professional investors who wish to become shareholders and partners of successful companies offered on the market. The companies already traded on the PX Start market include the manufacturer of specialized footwear Prabos plus a.s. and the leather processor KARO INVEST, a.s., which raised CZK 40 million for its development here last year.
STARTEEPO is a financial group that offers Czech small and medium-sized enterprises consulting services around funding. Since its founding in 2017, it has helped companies obtain almost CZK 1 billion. STARTEEPO also operates its own investment fund, NEW AGE FUND, focused on ethical investments in the new economy, and the CZEGG VENTURES fund, investing in Czech family-run SMEs. In 2020, the company’s founder František Bostl was featured in the prestigious Forbes 30pod30 ranking.