Simtel Team posts turnover of RON 137 million and a net profit of RON 12 million at the individual level for 2022

Simtel Team posts turnover of RON 137 million and a net profit of RON 12 million at the individual level for 2022

Simtel Team (BVB: SMTL), 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, posts, at an individual level, a turnover of RON 137 million for 2022, a 134% increase compared to 2021 and a net profit of RON 12 million, a 96% appreciation compared to 2021. The green energy division had the largest contribution to the turnover, 77%. Telecommunications accounted for 21%, while other business lines contributed 2%.

2022 is a historic year for us and the entire Simtel Team, being by far the best year since the company’s establishment, both financially and in terms of the projects in which we have been involved. During the past year, we commissioned photovoltaic power plants with an installed power of approximately 45 MWp, and the client portfolio expanded to 70 clients. At the same time, we are proud that last year we managed to take the first step in our international expansion strategy by opening a subsidiary in the Republic of Moldova. In this market, the demand for renewable energy solutions will continue to increase in the coming years. The excellent results recorded in 2022 at the individual level would not have been possible without the support of Simtel investors, who once again supported us through their participation in the June 2022 share capital increase operation. We thank them for placing their trust in our team and development plans, and we want to let them know that we remain dedicated to our goal of contributing to Romania’s long-term energy independence,” stated Iulian Nedea, co-founder and CEO of Simtel Team.

In 2022, Simtel Team recorded operating revenue of RON 137.1 million, a 134% increase compared to 2021, when the company generated operating revenue of RON 58.7 million, and the net result increased from RON 6,1 million in 2021 to RON 12 million in 2022, a 96% appreciation. Thus, at the individual level, Simtel Team recorded operating revenues 34% above the budgeted operating revenues for 2022 and a net profit, at the individual level, 10% above that targeted at the level of 2022.

The performance achieved in 2022 at the level of financial results was determined by the excellent and continuous contribution of the renewable energy business line, which generated 77% of the total turnover, an increase in the total weight compared to 2021 by eight percentage points. Therefore, this division, which primarily focuses on energy efficiency solutions by building, maintaining, and operating photovoltaic power plants for retailers on their roofs or in large, field-built photovoltaic parks, has contributed approximately RON 105.5 million in turnover for 2022, compared to RON 40.4 million generated in 2021.

The telecommunications integrator business line contributed 21% to the total turnover and generated revenues of approximately RON 28.8 million in 2022, compared to RON 18.2 million in 2021. Share of other business lines remained insignificant, representing 2% of the total turnover.

Simtel Team will publish the consolidated financial results, which include the results of ANT Power and Advanced Robotics, whose name was changed to Agora Robotics, in mid-March, 30 days before the Annual General Meeting of Shareholders from April 18, 2023. Management states that group-level performance will further strengthen individual results.

ANT Power has had an intense activity in 2022, the projects related to forecasting energy production in photovoltaic parks constantly increasing. In addition, the company is also involved in projects where it performs production forecasting for wind farms with an extremely high degree of accuracy. At the same time, Agora Robotics estimates that the R&D process in which it is involved will lead to the creation of the first robot prototype that performs cleaning autonomously in industrial or retail spaces by the end of May 2023. The start of series production is planned for the first quarter of 2024 ,” 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 RON 220 million.


About Simtel Team

Simtel Team is a Romanian company, founded in 2010 by three Romanian entrepreneurs – Iulian Nedea, Sergiu Bazarciuc and Radu Vilau. The company is listed on the AeRO market of the Bucharest Stock Exchange under the stock symbol SMTL and operates in 3 fields of activity – integrator in the telecommunications field, renewable energy and industrial automation. Simtel specializes in providing integration services to mobile telecommunication operators, building and providing maintenance of photo-voltaic plants, as well as industrial process automation. The company has successfully delivered projects in each of these fields to clients located both in Romania and abroad. Starting from October 2021, the company is included in the BET- AeRO index of BVB. 

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