Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and national leader in renewable energy, announces that the Financial Supervisory Authority (FSA) has approved the prospectus for the admission to trading of SMTL shares on the Main Market of the Bucharest Stock Exchange.
“The transfer of SMTL shares to the Main Market of the Bucharest Stock Exchange represents an important milestone in the company’s development and the culmination of our team’s efforts since its establishment. Throughout this period, the complexity of Simtel’s business has evolved significantly, but we have remained faithful to the two main pillars – engineering and technology – from which each of the areas in which we are currently active derives. For the next five years, we aim to diversify our portfolio of services and products and continuously adapt our business model to maximize the impact of our investments, including the development of the companies that are part of the Simtel group. Our presence on the Main Market will provide us with a high degree of transparency and improved corporate governance, which will underpin Simtel’s positive evolution. We also plan to attract future financing through Romanian capital market instruments, which will allow us to further implement our ambitious development plan,” stated Mihai Tudor, CEO and executive member of the Board of Directors of Simtel Team.
Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange as of July 2021. The company started this year the proceedings for the transfer of shares to the Main Market, and in May it published its IFRS audited financial results for 2021, 2022, and 2023. Thus, according to the international financial reporting standards, Simtel registered in 2023, at the consolidated level, a turnover of 297.8 million lei, a 118% increase compared to 2022, EBITDA of 37.7 million lei, a 171% increase compared to the previous year, and a net profit of 27.1 million lei, +205% compared to 2022.
The financial results at the consolidated level include the performance registered by Simtel Team S.A. and group companies, namely ANT Power Energy SRL (51%), Simtel Solar SRL Moldova (100%), Agora Robotics SRL (51%), Custom Soft Solution SRL (29%), GES Furnizare SRL (62%), Plesoiu Solar SRL (98.60%), Simtel Industrial Control SRL (75%), SMTL Solar Ianca SRL (100%), SMTL Solar Anina SRL (100%), SMTL Solar Giurgiu SRL (100%) and SN Energie Company SRL (100%).
“Three years ago, our company debuted on the AeRO Market of the Bucharest Stock Exchange, benefiting from the confidence of investors who believed in Simtel’s fundamentals and our vision for the future. We are proud that between 2021 and 2023, our revenues at the consolidated level under IFRS increased by 370% and net profit by 157%, demonstrating our ambition to continuously grow the business. We are aware of the potential for further growth in the renewable energy sector, being in a favorable position to be involved in a significant number of projects, both our own and for other companies,” stated Iulian Nedea, co-founder and Chairman of the Board of Simtel Team.
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