Simtel Team announces the signing of a partnership with Axell Green Energy, part of the Carmistin Group, one of the largest players on the Romanian agri-food market, which aims to build and install photovoltaic plants at some of the group’s headquarters and offices.
“The market context in which we find ourselves, marked by more and more events with economic impact, such as rising energy prices, the war in Ukraine and the continuous rise of inflation, determine more and more companies to move towards the implementation of green energy solutions. At Simtel, we have all the necessary resources to support companies that want to make the transition to green energy by installing photovoltaic power plants. We thank the Carmistin Group for the trust given to our team in carrying out this project. We remain dedicated to our mission to make green energy a priority for Romania and we strongly support the protection of the environment by streamlining energy consumption at the level of companies of all sizes,” said Iulian Nedea, co-founder and CEO of Simtel Team.
The photovoltaic power plants will be designed and built by Simtel Team in 18 locations belonging to the Carmistin Group. They will have an installed capacity of 4.5 MWp and approximately 10,500 photovoltaic panels. In the first year of operation, the energy produced will be of 5,400,000 KWh and will reduce carbon dioxide emissions into the atmosphere by about 3,300 tons per year.
Within this project, Simtel Team will be responsible for engineering works, design, procurement of equipment and materials, installation, testing and commissioning of photovoltaic power plants. After the completion of the works, the company will ensure the maintenance of photovoltaic panels, which involves 24/7 monitoring, corrective remedies of any kind made in 24 hours and annual overhauls to prevent the occurrence of any other potential unpleasant situations in the future.
In the first quarter of 2022, Simtel Team achieved a turnover of 9.7 million lei, an increase of 57% compared to the same period last year and a net profit of 0.29 million lei. During this period, the green energy division had the largest contribution to turnover, 80%, approximately 7.7 million lei. At the end of Q1 2022, the company had signed contracts aimed at installing photovoltaic power plants with an installed capacity of 17 MWh. Simtel also has contracts signed with 63 customers totaling approximately 5 MWp and which have financing contracts approved by the Electric UP government project. Currently, another 9 MWp are being implemented, contracts signed at the end of 2021 with companies from various industries, such as Fan Courier, Penny Market (REWE Group) and Kaufland.
In 2022, Simtel Team aims at operating revenues of 103.7 million lei, an EBITDA of 14.9 million lei and a net profit of 11.6 million lei. This increase in the level of financial results will be achieved with the support of the regional centers opened by the company in Cluj, Timișoara and Bacău, through which more projects will be accessed at national level.
Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange since July 1, 2021. Currently, the company has a market capitalization of approximately 160 million lei.