The net profit reported by the firm is 0.76 million lei, 41% higher compared to the same period in 2020. Renewable energy projects contributed 79% to the total turnover.
“In the first six months of 2021, we experienced intense activity on all three main business lines, renewable energy, telecommunications and automation. At the same time, it is important to emphasize that the results of the first half of 2021 were achieved organically, since the capital raised during the private placement entered the balance sheet at the end of May 2021 and was not used before the end of the first half of this year. We continue to believe that we are in a unique moment as the context is favorable for all lines of business of our company. In the next period we plan to attract new capital to further accelerate our development by engaging in several MA transactions to complete our range of services. We are particularly looking at companies operating in the service area of operating photovoltaic parks, energy production/consumption prediction, electric charging stations as well as companies operating in the industrial robotics niche. We thank all the investors who decided to invest in Simtel shares and trust our business development plan”, said Iulian Nedea, CEO of Simtel Team.
The company’s renewable energy division contributed approximately 14.6 million lei (79% of the total turnover), against the background of the increasingly high demand for the solutions offered by Simtel in the field. One of the projects in the renewable energy sector was the construction for Kaufland Romania of two power plants that involved the installation of over 1300 photovoltaic panels.
They have a capacity of 490.5 KWp and help the environment by reducing carbon dioxide emissions by more than 760 tons per year. Also during this period, Simtel built a photovoltaic park of over 0.6MWp in Bucharest for an international furniture retailer.
In addition to building photovoltaic power plants on roofs, in the first half of the year, Simtel performed complete maintenance services for a number of 20 photovoltaic parks constructed on land, totaling over 100MWp, another 110 photovoltaic power plants built in Romania, on the roof, with an installed capacity of over 25 MWp and maintenance only for inverters in over 50 photovoltaic parks totaling over 200 MWp. Thus, Simtel continues to be the market leader in design, acquisition, construction, and maintenance solutions for photovoltaic power plants in Romania.
Regarding the future of this line of business, the company currently has ongoing contracts for the construction of 5 MW of photovoltaic plants, totaling over 10,000 photovoltaic panels. These contracts include over 25 projects carried out on the roof, with dimensions between 50kWp and 1000kWp. At the same time, Simtel continues to collaborate in this field with the company’s loyal customers, such as Dedeman, Mega Image, Rewe-Penny Market, and Kaufland.
The telecommunications division contributed 20% to the company’s total turnover in the first half of 2021 and brought in revenues of 3.7 million lei, 15% more than the previous year. During this period, Simtel continued the collaboration with Telekom Romania, fixed and mobile, Vodafone Romania on the development of communication networks or the efficiency of energy consumption, but also on the construction of the RoNET network in partnership with Telekom, which aims to build a national broadband infrastructure in disadvantaged areas.
The automation division contributed 1% to the turnover in the first half of 2021, recording revenues of 0.2 million lei. Simtel’s activity in this field was focused on commissioning and maintenance works for the company’s partners, ABB Romania and Nidec.
In addition to the three main business lines, the company has developed and continues to create new fields of activity, which are still in their early stages, namely networks of charging stations for electric cars and distribution of equipment needed to build photovoltaic projects.
Simtel Team is listed on the AeRO market as of July 1, 2021. The company has a market capitalization of over 230 million lei. Before the publication of the financial results for the first six months of the year, SMTL shares were traded at 32.95 lei/share.
About Simtel Team
Simtel Team is a Romanian company, founded in 2010 by three Romanian entrepreneurs: Iulian Nedea, Sergiu Bazarciuc and Radu Vilău. The company is listed on the AeRO market of the Bucharest Stock Exchange under the stock symbol SMTL and operates in 3 fields of activity: telecommunications, renewable energy and industrial automation. Simtel is a service integrator for mobile telecommunications operators, it makes electricity consumption more efficient through solutions that involve the construction and maintenance of photovoltaic power plants, and it automates industrial processes. The company has successfully delivered projects in each of these fields to clients located both in Romania and abroad.
* Article taken from Economica.net: https://www.economica.net/simtel-team-a-inregistrat-semestrul-i-o-cifra-de-afaceri-de-185-milioane-de-lei-in-crestere -with-30_531968.html
