Polaris IT Group SA hereby announces that iSRV Zrt, being a member of the company group, has partially completed the agreement concluded in the spring of 2020. iSRV Zrt has engaged itself in distributing medical equipment for two Hungarian state bodies, through a contributing partner, with a total contract value of approx. EUR 36 million.
Following the terms of the contract, in the first half of 2020, iSRV Zrt completed the first part of the agreement in the amount of EUR 13M.
Recently, iSRV Zrt completed the second part of the contract, in accordance with which they shall deliver protective medical masks to a Hungarian governmental customer through a contributing partner in a volume of EUR 10 million.
Following the conclusion of the contract in spring, with regard to the order, 100% of the advance payment was paid to iSRV Zrt. and it has been a part of the evaluation of the company, presented among the income of this year. Following the successful delivery of the medical masks, the respective certificate of performance has just been issued.
Completing the last part of the contract is also in progress; the equipment has arrived in Hungary, and only the handover procedure is left.
The successful delivery of the order confirms the objective of the management, in accordance with which the distribution of healthcare products to potential buyers is worthy to continue.