Romanian engineering company Simtel Team to trade on BVB main market
<p>The Romanian engineering company Simtel Team (SMTL) is set to transfer to the main market of the Bucharest Stock Exchange starting Monday, August 12, according to an announcement from the BVB. </p>
<p>Simtel Team began the process of transferring its shares to the main market, publishing in May the audited financial results according to IFRS for the years 2021, 2022, and 2023. The company has been active on the capital market since its listing on the AeRO Market in 2021 and is now the sixth company to make the transition to the Main Market.</p>
<p>The company aims to diversify its portfolio of services and products in the next five years with the financing that may come from being on the main market.</p>
<p>Simtel reported consolidated revenue of RON 297.8 million in 2023, reflecting a 118% increase compared to 2022, an EBITDA of RON 37.7 million, up by 171% from the previous year, and a net profit of RON 27.1 million, marking a 205% rise compared to 2022.</p>
<p>The consolidated financial results include the performance of Simtel Team S.A. and its companies: ANT Power Energy SRL (51%), Simtel Solar SRL Moldova (100%), Agora Robotics SRL (51%), Custom Soft Solution SRL (29%), GES Furnizare SRL (62%), Pleșoiu 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%). </p>
<p>“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,” Mihai Tudor, CEO and executive member of the Board of Directors of Simtel Team, said when the announcement regarding to move was first made.</p>
<p><em><a href="mailto:radu@romania-insider.com">radu@romania-insider.com</a></em></p>
<p><em>(Photo source: company photo)</em></p>