Both divisions of the group reported increases in revenue and operating profit in the first half of 2020. The Education Division, which includes Bittnet Training and Equatorial, reported a turnover of RON6.1 million in Jan-June 2020, up 17% on the year, with a gross margin of RON3.8 million, up 99% on the year. Thus, the Education Division ended the reporting period with an operating profit of RON1 million, higher by RON1.4 million versus the first half of 2019.
The Technology Division, which includes Dendrio and Elian, reported a 42% increase in turnover, to RON49 million, in the first six months of 2020. The gross margin of the two IT&C integration companies soared 265% to RON7.15 million and the operating profit grew by RON4.7 million to RON1.4 million.
In line with the results of the last 13 years of activity, the management expects the Group to register in the second half of 2020 approximately 60% of the 2020 turnover and the global revenue for the whole 2020 of Bittnet Group to reach RON125 million.