Simtel (BVB: SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange and one of Romania’s leading renewable energy players, posts consolidated operational revenues of 79.9 million lei in the first quarter of 2025, marking a 71% increase compared to the same period last year, and a net profit of 5.4 million lei, up 14% compared to Q1 2024.
“The first three months of the year confirmed that our approach of building a balanced business model, where electricity supply activities are combined with the development of our own projects, is starting to show results. In Q1 2025, GES Furnizare made a substantial contribution to the group’s performance, generating significant revenues and demonstrating that through careful energy procurement planning and rigorous cost management, we can ensure financial stability even in a volatile market context. At the same time, we made important progress in developing our own production capacities, which will support the group’s long-term energy independence and strengthen our position in the renewable energy sector. We are also pleased with the progress of the works at the Giurgiu photovoltaic park, a strategic project that will enable the delivery of over 700 GWh of electricity to GES clients over the next ten years, based on the PPA contract signed in April of this year ,” stated Mihai Tudor, CEO and Executive Board Member of Simtel Team.
In the first three months of 2025, at the level of operational revenues recorded by the group entities, Simtel Team S.A. generated 34.6 million lei, GES Furnizare (GES) – 42.6 million lei, and ANT Energy – 1.7 million lei. Other entities within the group, mainly representing photovoltaic parks under development, as well as Simtel Moldova, Agora Robotics, and Custom Software Solutions (CSS), did not record significant revenues.
GES, a company in which Simtel Team holds a 62% stake, recorded remarkable progress in Q1 2025, and for the first half of the year, it estimates an energy delivery volume equivalent to over 70% of the total delivered throughout 2024. Additionally, at the beginning of March this year, the GES subsidiary established in the Republic of Moldova obtained the energy supply license from the National Energy Regulatory Agency (ANRE), an important step that allows the company to sign direct contracts with end beneficiaries. Meanwhile, GES management is considering expanding the international network by opening a new subsidiary outside Romania, aiming to strengthen its presence in the European market and provide superior energy solutions to clients in various regions.
Regarding the provision of Engineering, Procurement, and Construction (EPC) solutions in the first quarter of 2025, the company continued the implementation of large-scale photovoltaic park projects for clients. At the same time, it advanced the development of its own photovoltaic park division, estimating that by the end of the year it will have an installed capacity of 78.4 MWp in operation, out of a total of 83.4 MWp corresponding to the eight parks it owns.
In parallel with the development of its own photovoltaic parks, in Q1 2025, Simtel continued work on energy storage parks, which are essential for the transition to a sustainable and efficient energy system, aimed at strengthening its position in the renewable energy sector. Currently, the five energy storage parks, with a total capacity of 260 MWh once completed, are at various stages of development, ranging from preparing technical documentation and obtaining necessary approvals to the preliminary construction phases. The company estimates that most projects will be completed in the second half of 2026 or the first half of 2027.
Simtel Team is listed on the Main Market of the Bucharest Stock Exchange as of August 12, 2024, and is traded under the SMTL symbol.
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About Simtel
Simtel is a technology, engineering, and innovation group with Romanian roots, international presence, and a global vision. The group provides companies and organizations with comprehensive solutions and integrated ecosystems, covering the entire process from consultancy, authorization, design, engineering, and construction to maintenance, operation, measurement, control, and energy supply. Simtel’s 360° expertise spans photovoltaic power plants, telecommunications, energy storage systems, as well as software platform development and robotic process automation, aiming to optimize resources and enhance efficiency. Simtel Team is listed on the Main Market of the Bucharest Stock Exchange under the ticker symbol SMTL.
