Simtel Team, a company listed on the AeRO market of the Bucharest Stock Exchange (BVB), estimates that in 2023 it will build photovoltaic power plants with an installed capacity of approximately 80 MWp, compared to just 45 MWp in 2022. Also, the company wants to move from the AeRO segment to the main trading one within the Stock Exchange and is considering increasing the number of projects in the Republic of Moldova, where it opened a branch at the end of last year.
In 2022, at an individual level, Simtel Team recorded a turnover of 137 million lei, an increase of 134% compared to 2021, and a net profit of 11.6 million lei – an increase of 88% compared with 2021. The green energy division had the largest contribution to turnover – 77%, telecommunications accounted for 21%, while other business lines contributed by 2%.
In the last four years, Simtel Team has designed and commissioned numerous photovoltaic power plants for customers in various industries. The photovoltaic parks operated by Simtel total over 200 MWp installed and produce 260,000 MWh annually, equivalent to the consumption of 73,000 homes in a year, reducing greenhouse gas emissions by 156,000 tons per year, thus helping to protect the environment and having a positive impact on the health and quality of life of communities, especially in densely populated urban areas.
Simtel Team announced the appointment by the company’s shareholders of a Board of Directors during the General Meeting of Shareholders on April 25, 2023, in order to align the company with the corporate governance requirements of the Bucharest Stock Exchange (BVB). The board is composed of five members – Iulian Nedea, Sergiu Bazarciuc, Radu Vilau, co-founders of the company, Adrian Netea, investment professional and Mihai Tudor, an executive with extensive experience in motivating and growing teams within companies.
“Simtel Team is in a stage of accelerated growth against the background of increasingly numerous requests for renewable energy solutions, an aspect reflected in the income and expenditure budget that we proposed for the year 2023, approved by our shareholders during the annual GSM – a consolidated turnover of 296.1 million lei, EBITDA of 31.5 million lei and a net profit of 25.6 million lei. In the next period, we will start the procedures for the transfer of the company’s shares on the BVB Main Market, by preparing the financial statements according to IFRS standards. This transfer is a natural step, considering the evolution of the company, as well as the possibility of attracting shareholding of institutional investors. Therefore, we have considered that in the new Board of Directors we bring with us people with complete experience in the development and implementation of business growth strategies. Together with Sergiu and Radu, we thank Adrian and Mihai for coming with us, as well as the shareholders for the vote of confidence,” said Iulian Nedea, co-founder and CEO of Simtel Team.
