Net profit stood at RONRON 6.6 million, 60% lower than in the first nine months of 2023.
”Although this decrease is significant, it reflects a natural transition determined by the change in the company’s business model in 2024. As of this year, the company shifted towards projects of considerably larger sizes with different implementation and billing dynamics. This change involves revenue collection predominantly in the second part of the financial year as projects are completed and billed to beneficiaries. This strategy allows the Company to tackle large-scale projects, but temporarily affects the level of profit during implementation,” Simtel Team said in its latest financial report.
In terms of operating revenues recorded by the group’s entities, Simtel Team S.A. generated operating revenue of RON122.2 million, GES Furnizare SRL – RON33.6 million, Simtel Moldova SRL – RON6.5 million and ANT Power Energy SRL – RON6.5 million.
(English version by Loredana Fratila-Cristescu)