OREANDA-NEWS. May 24, 2010. ARMADA (MICEX, RTS: ARMD) has been ranked among Russia’s top 30 IT companies by the Expert Rating Agency.

Analysts of Expert RA have acknowledged the ARMADA Group as Russia’s fifth largest software developer in terms of revenue for 2009. In the consolidated rating of IT companies, ARMADA came 24th.

According to Expert RA analysts, "some trends noted during previous year’s survey, clearly manifested in 2009. The segments of IT Services and Software Development look better than other for the second consecutive year".

Commenting on the rating, Chairman of the Board of Directors of OAO ARMADA Alexei Kuzovkin said: "ARMADA’s leadership in software development was conditioned by our focus on high-margin IT market sectors. The company’s strategic goal is to expand the total market share and to strengthen position in the Software Development and the IT Services sectors, boasting the highest growth potential".

The company’s revenue in 2009 amounted to RUB 3.3bn (approx. USD 111m), EBITDA amounted to 12% of revenue. The company has no debt burden. Software development and IT services segments accounted for the highest increase. In the total revenue mix, the two sectors accounted for 57% of ARMADA’s total revenue, and contributed 85% of the total amount of EBITDA.