Safetech Innovations posts a net profit of 3 million lei and individual revenue of 13.2 million lei in the first quarter of 2025

Safetech Innovations (BVB: SAFE), a Romanian cybersecurity company listed on the Bucharest Stock Exchange, with offices in Bucharest, London, Abu Dhabi, and Riyadh, posts, at the individual level, a net profit of 3 million lei in the first quarter of 2025, up 11% compared to the first three months of 2024. Individual revenues amounted to 13.2 million lei, down 13% year-on-year, while the turnover reached 9.3 million lei, a 21% decrease compared to the same period last year.

In the first quarter of 2025, at the individual level, cybersecurity services recorded a 27% increase, contributing 42% to the total turnover, while the implementation of cybersecurity solutions declined by 38%, accounting for 58% of the turnover. The higher share of cybersecurity services, which have a higher profit margin, positively impacted profitability, with the profit margin increasing from 23% in Q1 2024 to 32% in the same period of 2025.

At the consolidated level, which includes the performance of the UK entity (Safetech UK) and the Kingdom of Saudi Arabia entity (Safetech KSA), revenues reached 13.3 million lei in the first quarter of 2025, while net profit increased by 84%, reaching 2.5 million lei compared to 1.4 million lei in the first three months of 2024.

“The financial results for the first quarter of 2025 reflect the continued implementation of our consolidation and operational efficiency strategy in an economic environment that remains characterized by caution, both in the public and private sectors. Although turnover was below the level recorded in the first quarter of 2024, when it was supported by a significant contract, we successfully improved profitability in the first three months of 2025 by increasing the share of high-margin cybersecurity services, as well as through rigorous cost management and careful resource allocation. At the same time, we focused on expanding our client portfolio, securing 8 new clients in Romania, and signing new contracts that address current cybersecurity needs, from incident response to research and innovation projects in the field of artificial intelligence. We remain attentive to market developments but optimistic about our growth prospects, relying on our team’s expertise, our solid portfolio of cybersecurity services and solutions, and our ability to respond quickly to client demands,” stated Victor Gansac, Chairman of the Board and CEO of Safetech Innovations.

In the first quarter of the year, Safetech Innovations signed a cybersecurity incident response services contract, announced at the beginning of February, with a total value of 2.5 million lei. Additionally, at the end of February and beginning of March, the company concluded two other significant contracts: one valued at approximately 4.3 million lei for the provision of technical assistance services, and another as part of a research and development project under the Romanian Artificial Intelligence Hub (HRIA), with a value of around 6.5 million lei, of which 4.8 million lei represents non-reimbursable funds.

Regarding Safetech UK, in the first three months of 2025, the company attracted 7 new clients, mainly in the area of cybersecurity services. As for Safetech KSA, during the same period, only administrative expenses were recorded, related to the renewal of the operating license and accounting services.

Safetech Innovations has been listed on the Main Market of the Bucharest Stock Exchange since February 6, 2023, and is traded under the symbol SAFE.

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About Safetech Innovations

Since 2011, Safetech Innovations S.A. has been providing customized cybersecurity services and solutions tailored to the needs of each organization. The company’s portfolio of services and solutions includes consulting for governance, risk management, and compliance (GRC) in security, security testing and vulnerability management, security solutions, professional services, outsourced security services, and proprietary software applications for cybersecurity.

Safetech Innovations has established partnerships with several leading cybersecurity companies, such as CheckPoint, DarkTrace, Microsoft, Splunk, Fidelis, HID, Cynet, and Phriendly Phishing. Currently employing over 60 staff members, the company has dedicated teams to research and develop cybersecurity software products, implement and support security solutions, and Computer Emergency Response Team (CERT) services.

The company serves clients from various sectors, including utilities, healthcare, insurance, industrial manufacturing, retail, and the public sector. Additionally, seven of the top ten banks in Romania have chosen Safetech as their cybersecurity service provider. Safetech Innovations has been involved in over a hundred projects to secure critical infrastructures in the United States, Canada, Brazil, Morocco, the European Union, Singapore, the Philippines, India, China, and New Zealand.

Safetech Innovations (SAFE) is listed on the Main Market of the Bucharest Stock Exchange as of February 6, 2023.

More information about Safetech Innovations is available at www.safetech.ro