“In the analyzed period, the consolidated revenues had the evolution presented as a result of Fort’s focus on the service delivery segment and less to solutions delivery and equipment. At the same time, since the seasonality of business shows a higher value of revenues in the
second part of the year, the reported result is in accordance with the estimates made in budget,” as per the report.
“The increase in operating expenses negatively impacted profitability, the dynamic being generated by the fact that, for the development of the activity, specific sales and marketing activities are necessary. At the same time, an increase in expenses generated by service providers involved in the delivery activity is observed, an effect of the company’s focus on service delivery. Even under these conditions, in a year marked by the company’s desire to expand internationally, for which certain costs cannot be avoided, we remain optimistic that we can achieve the targets we have set for ourselves,” the report also reads.
According to the report “in the first half of 2024, FORT continued to increase its international expansion activities, both through a physical presence in the strategic markets, UK and Southeast Asia, as well as through online initiatives. The results are encouraging, with contracts signed in the UK, Denmark and Slovakia. Given these developments, we expect the volume in services exports to increase in the second semester, as we are dedicated to identify new customers and international partnerships.”
Revenues from cybersecurity services increased by 13% in January-June 2024, compared to the same period of 2023, reaching RON5.56 million. At the same time, the gross margin registered a significant increase of 191%, reaching RON2.38 million. It is important to say that, historically, over 60% of the gross margin is generated in the second half of the year.
Fort started trading its shares on the Multilateral Trading System (the AeRO market) of the Bucharest Stock Exchange on May 17 and this is the first financial report published since listing. Compared with the price of the private placement, 4RT shares are trading down 8.7%, in line with calculations by Ziarul Financiar (ZF) daily. The company has a market value of RON48 million.