Safetech Innovations reports 14.7 million lei turnover and 3.1 million lei net profit for 2020
Bucharest, 1 March 2021 – Safetech Innovations, a Romanian cybersecurity company, listed on the AeRO market of the Bucharest Stock Exchange reports for 2020 turnover of 14.7 million lei, a 43% increase compared to 2019 result, and net profit of 3.1 million lei, a 148% surge compared to the previous year. The net profit margin hit a record high in 2020, reaching 21%.
“In a year marked by a global pandemic, where businesses struggled to continue operations, our company thrived. I would like to thank all the Safetech Innovations team for their contribution to the company’s development in 2020. In line with our dividend policy, the great results from 2020 will be distributed to shareholders under a hybrid model, where part of the profit will be capitalized, and our investors will benefit from free shares; another part will be distributed in cash. We consider that this balance of capitalization and distribution is a perfect one, providing the company with sufficient capital to continue accelerated development while also rewarding our shareholders for their trust,” said Victor Gansac, CEO of Safetech Innovations.
In 2020, Safetech Innovations registered an operating revenue of 18,5 million lei. Out of that sum, 7.8 million lei was generated by the sale of cybersecurity services which saw an increase of 54% compared to the previous year, 6.7 million lei was brought by the cybersecurity maintenance and support services as well as the implementation of cybersecurity solutions. Additional 3,4 million lei were non-reimbursable EU funds accessed by the company in 2020 under the SafePIC project, which aims to increase the response capacity of Safetech’s Computer Emergency Response Team (STI-CERT) to cybersecurity attacks and incidents. In the course of 2020, Safetech Innovations served over 50 customers from Romania and abroad.
In 2020, Safetech Innovations implemented a new organizational chart and new workflows and procedures to streamline the company’s activity. As a result thereof, Safetech registered an increase in added-value labour productivity by 23%. This directly resulted in the growth of the profit margin from 16% to 21% in 2020. Moreover, in the course of 2020, the company adapted to the general context of the sanitary crisis and implemented measures so that 95% of the cybersecurity services and solutions offered by the company can be provided and implemented remotely. This will help the company grow the number of clients in foreign markets in the coming years. For 2021, Safetech Innovations estimates turnover from the main activity of 20 million lei and a net profit of 4.5 million lei.
In line with Safetech Innovation’s dividend policy, the management proposes to the shareholders a capitalization of 2.5 million lei from the profit as well as the distribution of cash dividend in the amount of 437.500. Consequently, shareholders will receive, for each share held, 4 free SAFE shares as well as 0.14 lei.
Safetech Innovations is listed on the AeRO market since January 29th, 2021. SAFE shares are currently the most traded financial instruments on the AeRO market since the beginning of 2021. Since the debut, in just 21 trading sessions, investors have traded shares in a total value of 23.6 million lei, which brings the average daily traded value to 1.1 million lei. On March 1st, 2021, before publishing the preliminary financial results, SAFE shares traded at 31.6 lei per share. Consequently, the market capitalization of Safetech Innovations reached 102 million lei.
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About Safetech Innovations
Established in 2011, Safetech Innovations is currently the only dedicated information security company on the Romanian market, specialized in the field of cybersecurity and implementation of cybersecurity solutions. Safetech Innovations’ services include data protection, identification of vulnerabilities and risks, implementation of cybersecurity solutions and measures, response to cybersecurity incidents through STI CERT – Safetech Cyber Security Incident Response Center as well as creation of an organizational culture oriented towards safety. The company has a broad portfolio of clients, having worked with more than 10 key institutions from the local financial-banking sector, international players as well as local companies from the energy, FMCG, telecom, IT&C and transportation sectors, just to mention a few. Safetech Innovations (SAFE) will be listed in Q1 2021 on the AeRO market of the Bucharest Stock Exchange market. www.safetech.ro