The operating revenues soared 67% to RON65 million and operating expenses skyrocketed 97% to RON47.8 million, potrivit datelor din raportul financiar.
“(…) The “Software Development” (DEV) division contributed 30% to the operating revenues for 9M 2024, while the “IT, Infrastructure, and Cloud” (IT) division accounted for 68%. Of the total operating revenues, 88% was generated from turnover, while 10% came from investments in the company’s own software products, specifically the development of the integrated modular software platform – “Bento Platform”, the report reads.
According to the report: “Revenues from the production of intangible assets reached 6.9 million lei in 9M 2024, a 35% decrease compared to 9M 2023. These represent investments in the company’s own software products, specifically the development of existing modules within the integrated modular software platform – “Bento Platform.” As noted in this year’s financial reports, the decrease is due to lower investment intensity in the company’s own products, a trend that will continue since these investments are now funded exclusively by the company’s own resources. This follows the completion, on December 31, 2023, of the EU-funded project, “Platform for Modular Digital Transformation in the Enterprise and Public Sector.”
Operating expenses increased by 97% compared to the first nine months of 2023, reaching 47.8 million lei as of September 30, 2024. The largest contributor to this increase was other operating expenses, which rose by 285% to 18.1 million lei in the first nine months, driven by
the significantly larger scale of the company’s ongoing projects. This category primarily includes subcontractor expenses for ongoing projects, amounting to approximately 14.7 million lei, as well as costs related to service providers (external platforms, IT services and
subscriptions, legal and accounting consultancy, advertising, communication services, vehicle-related costs, rents, etc.).
The second largest contributor to operating expenses was material expenses, which amounted to 14.3 million lei, a 230% increase compared to 9M 2023, driven by a 238% rise in goods expenses to 14.1 million lei. These represent hardware equipment and software licenses purchased by the company and delivered to clients as part of ongoing projects. The increase is due to the larger scale of projects requiring hardware equipment and software licenses compared to the same period last year.
Personnel expenses decreased by 5%, amounting to 13.4 million lei in the first nine months of 2024. This decrease was due to the expiration of certain fixed-term employment contracts.
The operating result increased by 17% to 17.3 million lei in the first nine months of 2024 compared to the same period last year”.
BENTO shares have traded up 12% so far in 2024 and up 23% over the last 12 months, triggering a market value of RON167 million. Founders Radu Scarlat and Vlad Bodea each own 25.8 of the company’s share capital.