QCOSTARICA – RACSA (Radiográfica Costarricense), the subsidiary of state-owned power and telecom, the Instituto Costarricense de Electricidad (ICE), has dramatically improved its financial situation in 2015.
The company that was once the premier communications company and internet connection provider, has swung from an operating loss of 13.19% of its revenue in 2014, to an operating profit of 4.5% of income in the past year.
According to general manager Francisco Calvo, this is the first time in six years that a positive position has been achieved, thanks to the development of new business opportunities, innovation, customer retention and the implementation of synergies at ICE group level.
According to Calvo, gross revenues increased this year by more than ¢3 billion colones compared with 2014, resulting from the growth of existing business, customer loyalty and the realisation of new opportunities in non-traditional business. In the same period, expenses dropped by ¢1 billion colones, resulting from the optimisation of the salary structure, revision of conditions of outsourced contracts and analysis of business models, among other measures.
What are RACSA’s goals for 2016?
Basically further growth in new specialized businesses, which include digital solutions to automate complex processes of state entities and business in general.
“We also aim to strengthen existing business through loyalty and customer retention,” says Calvo.
