BVB-listed Simtel Team signs RON 66.5 mln contract for photovoltaic plant
<p>Simtel Team (BVB: SMTL), a leading Romanian engineering and technology company specializing in renewable energy, has announced the signing of a significant contract worth RON 66.5 million (EUR 13.4 mln) excluding VAT with a company in the metallurgical industry.&nbsp;</p>

<p>Under this agreement, Simtel Team will be responsible for the design, engineering, procurement, construction, and commissioning of a photovoltaic power plant located in Calarasi County, in southern Romania.</p>

<p>The project is slated for completion within five months from the signing date, <a href="https://www.zf.ro/burse-fonduri-mutuale/bursa-simtel-team-a-semnat-un-contract-de-66-5-mil-lei-cu-o-companie-22442024?mc_cid=cc5d6b25b1&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Ziarul Financiar</a> reported.&nbsp;</p>

<p>Simtel Team reported a net profit of RON 4.96 mln in the first quarter of 2024, marking a 199% increase compared to the same period in 2023, despite a 31% decrease in revenues to RON 45 mln.&nbsp;</p>

<p>The company boasts a market capitalization of RON 412 mln and is primarily owned by Romanian investors Iulian Nedea (23.44%), Sergiu Bazarciuc (23.22%), and Radu Vilău (23.2%).&nbsp;</p>

<p>Simtel Team’s shares have surged by 21.7% since the beginning of the year.</p>

<p><em>andrei@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com/" rel="noopener" target="_blank">Deyangeorgiev/Dreamstime.com</a>)</em></p>