Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, post consolidated operating revenue of 128.8 million lei in the first half of 2022, a 34% increase compared to the same period last year, a turnover of 126.7 million lei, 35% appreciation compared to the first semester of 2021, EBITDA of 36.7 million lei, a 16% increase and a consolidated net profit of 28.8 million lei, a 9% increase compared to the first six months of 2021.
“The results related to the first semester of 2022 confirm our development strategy, organically and through the integration of new companies that can add value to the AROBS Group. The increase in turnover in the first six months of the year is due to contracting new clients in the software product area, increasing the number of projects in the service area, and growing more software development teams. Expanding collaboration with existing clients, continuous innovation, and development of new solutions and services also contributed to the increase in turnover. At the activity level, in 2022, we focused on extending our presence on the global market to provide services in areas such as automotive, embedded, travel technology, medical, and pharma. The three companies acquired after the private placement – Berg Software, Enea SDS (now AROBS Engineering), and Nordlogic, consolidate our expertise in embedded technology (medical, aerospace, and maritime devices) and enterprise solutions in the DACH area and the United States. The financial results of AROBS Engineering and Nordlogic will be included in the year-end reports of 2022,” stated Voicu Oprean, founder and CEO of AROBS.
The newly acquired companies, Berg Software, Enea SDS (now AROBS Engineering), and Nordlogic, are in the integration process on several levels. The integration process in AROBS Grup is based, as in previous acquisition experiences, on the coagulation of organizational culture similarities, the decision-making autonomy of management teams with an exceptional track record in performance, and the development of specialist teams.
The company will continue its acquisition development strategy at the same pace BVB investors have been accustomed to – by signing a new deal every quarter. At the level of the targeted companies, the indicators pursued remain the same: an exceptional management team, organizational culture, and synergistic expertise with AROBS Group.
“We maintain our objective of moving to the Main Market of the Bucharest Stock Exchange after completing the consolidated IFRS audit for 2020, 2021, and 2022 years. We estimate that the transfer will take place in the first half of 2023 if market conditions are favorable. Another direction we want to continue is the buy-back program, to implement the Stock Option Plan, our performance reward program, and to create a partnership in developing the business development with our colleagues, the company’s most valuable resource,” Voicu Oprean added.
Regarding the evolution of the other solutions and software products of the AROBS Group, in the first semester of 2022, the divisions and companies in the group continued their growth by attracting new clients and consolidating in the Romanian market. The market opportunity is that the top business managers are increasingly emphasizing the importance of digitalization, streamlining business processes, and eliminating losses. The trend toward which the group’s clients are heading is big data solutions and AI, shared knowledge, and SaaS.
AROBS Transilvania Software is listed on the AeRO market of the Bucharest Stock Exchange as of December 6, 2021. The company currently has a market capitalization of approximately 763 million lei. Based on the 2021 results at the Group level, AROBS has a PER (Price-to-Earnings Ratio) of 16.14.