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Bucharest
November 28, 2022
BUSINESSCOMPANIESECONOMY

Simtel Team post 68.3 million lei turnover and a net profit of 3.5 million lei at consolidated level in the first nine months of 2022

Simtel Team (BVB: SMTL), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and a national leader in the field of renewable energy, post a consolidated turnover of 68,3 million lei in the first nine months of 2022 and a net profit of 3.5 million lei.

The green energy division had the most significant contribution to turnover at 84%. Telecommunications accounted for 15%, while other business lines contributed 1%.

In the first nine months of 2022, the activity of Simtel teams was dynamic, considering the market context marked by a series of events, including the war in Ukraine, rising energy prices, and continuously rising inflation. In short, 2022 is a challenging year, but one where companies and people have realized the importance of energy efficiency in our future. Therefore, this year, more and more companies came to us with requests to implement renewable solutions, such as installing photovoltaic panels. Our client portfolio expanded in the year’s first nine months with 56 new clients from diverse sectors. Moreover, during this period, we signed 68 new contracts, which target the installation of photovoltaic power plants, with a total installed power of approximately 56 MWh. In this context, we are confident that we will meet our budget targets for this year, and we are optimistic about the future, despite the difficult economic circumstances“, stated Iulian Nedea, co-founder and CEO of Simtel Team.

At the individual level, the turnover amounted to 66.4 million lei in the first nine months of 2022, a 160% increase compared to the same period last year, and a net profit of 2.7 million lei. The results for the first nine months of the year were driven by the excellent and continued performance of the renewable energy business line, which generated 84% of the total turnover, an increase in overall share by 5 pp. Therefore, this division, which focuses primarily on energy efficiency solutions by building, maintenance, and operation of photovoltaic power plants for retailers, on their rooftops or within large, land-based photovoltaic parks, contributed approximately 55.8 million lei to the turnover for 9M 2022, compared to 20.2 million lei generated in 9M 2021.

The integrator in the field of telecommunications business line contributed 15% to the total turnover and generated approximately 10 million lei revenues in 9M 2022, compared to 5.1 million lei in 9M 2021. The share of the other business lines remained insignificant, representing 1% of the total turnover, in line with the share it had in 9M 2021.

The results generated for the period ended September 30, 2022, confirm that our growth strategy is on the right track. In the long term, we are committed to our plans to continue to develop all three business lines of the company: renewable energy, telecommunications, and industrial automation. Thus, we will continue to help companies make energy consumption more efficient and perform better by developing photovoltaic power plants. We will support people to communicate better by designing and building telecommunications networks for mobile telecom operators. We will also be heavily involved in the automation of industrial equipment. In addition to these activities, we will also focus on building networks of charging stations for electric cars, where we have developed an operational application and are now working on its design and marketing and conducting R&D for energy efficiency and industrial robots developed by Advanced Robotics. Moreover, we will carry out operations and forecasting for renewable energy through ANT Power Energy and energy production through the SPVs designed for this activity,” added Iulian Nedea.

Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange as of July 1, 2021. Currently, the company has a market capitalization of approximately 195 million lei.

 

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