Engineering company Simtel Team Bucharest will open new regional centres this year to access more projects nationwide and strengthen its financial results, reports Transilvania Business.

This year, STB is targeting operating revenues of 103 million lei, a gross profit of 14.9 million and a net profit of 11.6 million. Growth will also be achieved with the support of the regional centres opened in Cluj, Timisoara and Bacau. The company listed on the AeRO market of the Bucharest Stock Exchange (BVB) reported business of 9.7 million lei in the first quarter of this year and a minimal net profit, compared to the loss recorded in the same period in 2021.

“The context of European directives on environmental protection, rising energy prices, European energy security affected by Russia’s invasion of Ukraine and rampant inflation have led more and more companies in Romania and abroad to implement renewable energy solutions,” says co-founder Iulian Nedea in the company’s quarterly report for investors.