Consolidated financial results include the performance of Simtel Team, Simtel Solar, the fully owned entity in the Republic of Moldova, and ANT Power Energy and Agora Robotics, in which Simtel Team owns 51%.
“The significant financial and operational results recorded in the first quarter of 2023 are based on the substantial increase in the number of projects implemented in 2022. This led to the postponement of the completion periods and the closure of an important number of these projects in the first quarter of this year,” says Iulian Nedea, cofounder, chairman of the board and CEO of Simtel Team.
Simtel installed about 18 MWp and attracted nine new customers in the first three months of the year.
Expenses rose from RON9.2 million to RON63 million in the first quarter. Simtel has RON154 million assets as a group, and RON98 million debts. It also has a market capitalization of RON250 million.
(English version by Loredana Fratila-Cristescu)