Operating revenues totaled RON28.3 million, up 49% from the year-earlier period.
Turnover hit RON20.8 million, 58% higher than in the same period of 2021 amid a rising weight of cybersecurity services contracts.
„In the first nine months of 2022, we recorded an increase in the number of recurring contracts, but also at the level of new clients, managing to add four new clients to our portfolio. The net profit margin improved significantly in 9M 2022 compared to 9M 2021, from 17% to 25%. The result is satisfactory, as in 2019, our margin was below 12%,” explains Victor Gansac, SafeTech Innovations CEO.
Regarding the company’s international activity, currently, the UK entity is operational, with three people, in addition to the general manager, Anca Stancu – the sales director, who covers the UK and the USA, the strategic account director, and Manager Channel and Inside Sales. As for the entity in the United Arab Emirates, the company expects it to be operational in the following period, with all the necessary documents having been submitted to the relevant authorities. As for the US entity, SafeTech Innovations estimates that by the end of the year it will be established, and from 2023 the US entity will become operational.
As regards the company’s transfer on the main market of the Bucharest Stock Exchange, it last week published on BVB the current report with the financial statements for 2019- 2021 transposed according to IFRS and audited by Baker Tilly.
„Our target is to ring the bell at the BSE to mark our transfer to the Main Market before the publication of the preliminary financial results for 2022, i.e., by the end of February 2023. Our objective is to include the financial statements that will already comply with IFRS in that report,” added Victor Gansac.
SafeTech Innovations was listed on the AeRO market on January 29,2021 and currently has an over RON180 million capitalization.
(English version by Catalina Apostoiu)