Croatian IN2 Group Grew by 23% in 2022, Now Has 650 Employees – thurs

Lauren Simmonds

April the 20th, 2023 – The Croatian IN2 Group (Grupa) had a very successful year last year, and with growth looking promising and their number of employees on the up, it seems that 2023 will be another good year.

As Poslovni Dnevnik/Tanja Ivancic writes, the Croatian IN2 Group which deals with software ended the year 2022 with total operating revenues in the amount of 33.6 million euros, which marks enviable growth of 23 percent when compared to 2021.

The increase in their overall income was achieved through inorganic growth, more precisely through the acquisitions of the companies MCS Grupa and Libusoft Cicom in the amount of 14 percent, while organic growth in regard to the regular operations of the Croatian IN2 Group stood at 9 percent.

At the same time, the Croatian IN2 Group saw an increase in their total expenses, which was actually slightly more than their increase in income, standing at 24 percent.

The increase in their expenses is conditioned, as the company explained, by ongoing unfavourable global trends, inflationary pressures and the general increase in business costs across the board, the biggest impact of which comes from the increase in the number of IN2 Group employees along with the increase in salary costs.

Due to the acquisitions of MCS Grupa and Libusoft Cicom, the Croatian IN2 Group has significantly increased its number of employees, meaning that today they number 650 in 10 companies spanning five countries.

The diversification of their business operations with more verticals and markets, along with the growth of business in them, made it possible for this domestic company to maintain profitability at the levels from back in 2021, they pointed out in their press release.

“We’re very satisfied with the state of our business over the past year. Our strategy for 2023 is the continuation of growth, which we plan to achieve by increasing the volume of our business with new projects, as well as with new acquisitions,” emphasised Snjezana Stankovic, a member of the IN2 Group Management Board.

For more, make sure to check out our dedicated business section.


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