Bogdan Tudorache
The electricity and natural gas supplier Restart Energy targets that this year it will double its number of household customers to 65,000 and increase its revenues by approximately 80%, up to 220 million lei. The growth is driven by the liberalization of the energy market and the addition of new business lines with higher added value, such as the sale of equipment.
Thus, Restart Energy, a company founded in 2015 in Timișoara, wants to reach 65,000 individual customers by the end of the year, by 35,000 more, as compared to 2020. It also aims to reach 7,500 customers in the business segment, up 50% as compared to last year.
The advance of the number of customers, but also the addition of new business lines – such as the sale of equipment – will lead to a significant increase in turnover. Thus, Restart Energy relies on revenues of 220 million lei in 2021, more by 100 million lei (+83%) as compared to last year. The company’s management plans to reach a net profit of 24.2 million lei at the end of 2021, compared to approximately 13 million lei (estimated) last year.
“Since the beginning of this year, with the liberalization of the energy market, we have registered a very large increase both in terms of requests for offers and the number of new customers. Thus, we notice that we receive about a thousand requests every day, and around 70% of those who find out about our offers also become our customers. We know that it is a temporary effect – for several weeks – due to market liberalization. But this historic event for the Romanian energy market will change the way the entire field looks, and will support us in achieving the objectives,” says Armand Domuța, CEO and founder of Restart Energy.
Along with market liberalization, another important factor for the development of Restart Energy this year, but also in the next five is the launch of a green bond issue. The bond issue is also the company’s most important plan at the beginning of the year. Through this issue, Restart Energy aims to obtain 3-5 million euro, needed for investments. The interest rate will be about 8-10%, and the listing on the Bucharest Stock Exchange will take place in the coming weeks. The placement will be arranged by the brokerage firm Goldring.