MIP Headquarters
Vörösmarty u. 53/2
1064 Budapest

News Release   02.11/1 

Contact: Mehmet Akyar +36 1 269 52 50


MIP announces new record for annual CoCreate license purchases,
58% growth highlights FY 2002 results.

07th November 2002


MIP Group, provider of  CAD/CAM/PDM systems for Eastern-Europe, today reported financial results for the ending of CoCreate fiscal year 2002 ended October, 31, 2002.

In the fiscal year 2002, MIP Group (MIP Hungary, MIP Turkey and MIP Estonia) managed for the first time in the history of the company to generate a 58% increase in purchase of CoCreate licenses. With this jump across the hurdle it became reality what MIP sales management had formulated as target for the fiscal year 2002, called "Sales Vision 2002". Number of  purchased licenses has also grown extremely.

MIP grew three times faster than the overall CAD/CAM/PDM  industry in fiscal year 2002 with every area of the company contributing to this success. As a result of this achievement MIP has increased its market share during 2002.

Benefiting from consumer demand for "a  good priced high professional" CAD solution, MIP has recorded its highest 3-Dimensional CoCreate license purchases in the company’s 8-year history as well. 

If we look to the percentages of three main software categories on the general success of the company, we could see the following :
Distribution of purchased licenses is for 3D systems 62 %,  for 2D systems 31% and  for PDM systems  7%.
The netto purchase volumes at CoCreate were 72% for 3D , 26% for 2D and 2% for PDM licenses.

A combination of factors came into play, including special adjusted (lowered) Eastern-European prices, improved support, distribution and depth of product knowledge. 

MIP's software solutions give designers and engineers all of the tools they need to quickly design their products right the first time, so they can bring products to market faster. The motto "MIP selects only the best offerings for their customers" has already settled in Eastern-European market. The company now has more than 1.000 seats in Eastern-Europe representing a large customer base. 


About MIP Group

MIP Group is a provider of CAD/CAM/PDM technologies, including M-CAD/PDM solutions from CoCreate, 3-axis milling CAM solutions from SESCOI, Universal CAM technologies from Pathrace and E-CAD solutions from CIM-TEAM.

Founded in 1995, MIP Group is headquartered in Hungary (Budapest), with international offices in Turkey (Istanbul) and Estonia (Tallinn). Distribution channels in Eastern-Europe include Baltic Republics, Belarus, Bulgaria, Czech Republic, Poland, Romania. Russia, Slovakia, Slovenia and Ukraine.

Very often MIP sets the standards for innovation and excellence in design and manufacturing solutions and customer service.
For more information visit the MIP's website at http://www.mip.hu



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This news release includes internal figures from the accounting department of MIP Ltd. Actual CoCreate results might have minor differences because of different time calculation rules at CoCreate order processing.

© 2002 MIP Ltd. Hungary. All rights reserved.