Simtel Team intends to get listed on the main tier of the Bucharest Stock Exchange either at the end of 2023 or at the beginning of 2024, Sergiu Bazarciuc, COO and co-founder of the company, told Energynomics.
“We want to move to the main market of the Stock Exchange either this autumn or next spring, depending on the fulfillment of the technical parameters,” said Sergiu Bazarciuc.
He explained, during the ESG:RO event, organized by Business Mark, that many companies continue to become sustainable by adopting energy efficiency solutions and solar parks necessary for self-consumption, and thus can access cheaper green loans, after meeting the criteria of sustainability required.
“Our goal is to help companies become sustainable. Now we are building an energy ecosystem through which we help companies to make their energy consumption more efficient, to produce their own energy. On the other hand, we started to look at ourselves, and we started to measure, to see where we are, what footprint we leave, and we will also move to sustainability reporting. It’s an internal desire, but it will also be an obligation, given that we want to move to the main market of the Stock Exchange. Now we don’t have the obligation to report, but we are preparing for the future,” said Sergiu Bazarciuc.
Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, recently reported, at a consolidated level, a turnover of 65.6 million lei in the first three months of 2023, marking an increase of 579% compared to the same period last year, and a net profit of 2.9 million lei – an appreciation of 896%.
At the same time, next month the company will launch its own 1 MW solar park, 100% owned and operated by Simtel, in Cleșoiu, Slatina.
Consolidated financial results include the performances of Simtel Team, Simtel Solar, the entity from the Republic of Moldova in which Simtel holds the entire stake, as well as ANT Power Energy and Agora Robotics, companies in which Simtel Team holds a 51% stake.
For 2023, Simtel targets, at a consolidated level, a turnover of 296.1 million lei, an EBITDA of 31.5 million lei and a net profit of 25.6 million lei. The income and expenditure budget was approved by Simtel shareholders at the annual Ordinary General Meeting of Shareholders, which took place on April 25, 2023. The company also estimates that this year it will put into operation photovoltaic power plants with an installed capacity of approximately 80 MWp, compared to 45 MWp installed in 2022. In addition, management is considering increasing the number of projects in the Republic of Moldova as well, through the local company, Simtel Solar.
