“We are looking into the option of an initial public offering on the main market to raise cash to develop the business,” Teofil Muresan, who owns 50% in Electrogrup told ZF. The group could do it as early as next year.
Electrogrup has 700 employees and consists of Electrogrup, Direct One, Nova Power & Gas, Wesee and Netcity. It posted almost EUR92 million revenue in 2016, while EBITDA stood at EUR17.5 million.
“We expect EUR120 million revenue and EUR20 million EBITDA this year,” Muresan added.
(English version by Loredana Fratila-Cristescu)