The biggest contribution to revenue was brought by the green energy segment, 69%, flat from 2020, while telecommunications contributed 29% to total turnover, up 1% from 2020.
The company’s other activities had a lower weight in total turnover amid Simtel Team’s decision to focus on the two main business lines where it is best known on the market and boasts the strongest position against rivals.
According to Iulian Nedea, co-founder and CEO of Simtel Team, the company will further invest to boost growth this year.
“In 2022, we plan to further develop our business, both organically and through acquisitions, with our long-term vision being to create a strong mix as services integrators in energy and telecommunications,” said Iulian Nedea.
The company plans to operate a share capital increase in Q2/2022, with the raised capital due to be used to carry out all the sealed or underway contracts.
Besides the capital increase, Simtel Team is in talks with several banks to fund various development projects, but also mulls issuing bonds on the capital market.
The company projects turnover worth above RON103 million at end-2022, up 76% year-on-year, and 87% higher profit against 2021.
“We expect green energy to contribute RON90.4 million to total revenues, while telecommunications will bring RON9.1 million,” says Iulian Nedea.
Simtel Team has been listed on the AeRO market of the Bucharest Stock Exchange since July 1, 2021 and at present has an over RON140 million market capitalization.
(English version by Catalina Apostoiu)