Maxcom SA increased sales by almost 2022% in 5, recording record sales revenues.
Despite many challenges dictated by the global geopolitical situation and the economic realities of Poland, Maxcom SA increased sales in 2022. Maxcom's portfolio was enriched with new product lines such as Smart Home devices, laptops, innovative mounting systems for photovoltaics, and jewelry-like limited editions of smartwatches.
In 2022, Maxcom had to grapple with the consequences of the war in Ukraine. Particularly severe were price increases for services and components used in the production of consumer electronics, an unprecedented nearly 20% increase in the dollar (USD), the purchasing currency for Maxcom products, against the Polish zloty (PLN), in which the vast majority of Maxcom's sales are valued, and staggering inflation in Poland, which drove the cost of money to its highest level in more than a decade.
Despite the unstable market conditions in 2022, the Company managed to significantly improve its cash flow ratio, and its trade receivables turnover cycle was shortened by 15 days. The inventory turnover cycle was also successfully shortened by 17 days. Maxcom increased sales in 2022 by almost 5% compared to 2021, generating record sales revenue of PLN 128.
The significant increase in interest in Maxcom was driven by the expansion of its product range, including products that aligned with current trends and responded to market demand, the development of e-commerce, and increased exports. The new product range included not only its own brand but also well-known global brands that partner with the company.
Maxcom's management anticipates significant revenue growth in 2023. The brand maintains its position as the dominant supplier of devices to domestic retail chains and mobile operators in the traditional phone category and is rapidly approaching the top of the smartwatch market. Sales of products in these categories are also steadily growing in international markets – the brand is now present in over 20 countries, primarily in Europe.
Maxcom is constantly developing its product portfolio to become increasingly competitive and tailored to the diverse needs of consumers. The new product range includes the Maxcom line, as well as global brands partnering with the company, such as Lenovo and the American JLab. Maxcom products align with the electromobility trend (e.g., electric scooters and Rubbee X electric drives), fashion trends (e.g., limited-edition smartwatches created in collaboration with the ANIA KRUK brand and designer headphones from JLab), the broader smart home trend (cleaning robots and Smart Home devices), and enable seniors to navigate the world of new technologies (e.g., traditional phones with WhatsApp functionality). The company is also expanding its offering of solutions related to renewable energy systems, which is based on the wholesale sale of photovoltaic components. Also new to Maxcom's portfolio are laptops and DVB-T2 decoders, responding to market demand.
