Simtel (BVB: SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange and one of the leading national players in the renewable energy sector, reported consolidated operating revenues of RON 152.4 million in the first quarter of 2026, up 91% compared to the same period last year. This performance was mainly supported by the expansion of the energy supply and trading activity, as well as by the continued implementation of EPC projects under execution. Revenues from current activity (turnover) reached RON 152.1 million, up 93% compared to the first quarter of 2025, representing 103% of the budgeted level for the first quarter of 2026.
In the first quarter of 2026, the Group generated EBITDA of RON 0.6 million, compared to RON 8.7 million in the same period of the previous year, while the consolidated net loss amounted to RON 3.8 million, compared to a consolidated net profit of RON 5.8 million in the first three months of last year. The profitability evolution was influenced by the particularities of the EPC project portfolio under execution, the implementation stages and the timing of margin recognition related to these projects, as well as by the implementation of the commercial strategy focused on extending and renewing contracts for existing clients, which involved temporary adjustments to commercial margins within the energy supply segment. Nevertheless, the results recorded in the first quarter of 2026 were, overall, in line with the Group’s targeted Revenue and Expense Budget for this period.
“The first quarter of 2026 reflects the continuation of our accelerated development strategy and the strengthening of Simtel Group’s position across its key business segments. The strong revenue growth was mainly supported by the expansion of the energy supply and trading activity, as well as by the continued implementation of EPC projects within our portfolio. At the same time, the quarter’s profitability was temporarily impacted by the structure of the projects under execution, the weather conditions during the analyzed period, which affected the pace of on-site works, as well as by the commercial strategy adopted within the energy sales segment, focused on consolidating the existing client portfolio through the extension of contracts reaching maturity. We remain focused on expanding the Group’s activity across its strategic business segments, developing our own project portfolio, and strengthening our presence on the renewable energy market, in a context where we continue to see significant medium and long-term growth opportunities ,” stated Mihai Tudor, CEO of Simtel Group.
Regarding the operational segments, the Energy Sales segment had the largest contribution to the Group’s consolidated revenues in the first three months of 2026, generating revenues of RON 113.5 million, up 165% compared to the same period last year and representing 122% of the budgeted level for Q1 2026. The segment’s evolution reflects the growth of the electricity supply activity and the increase in traded volumes during the analyzed period.
The EPC Projects segment generated revenues of RON 36.4 million, up 6% compared to the same period of the previous year, driven by the continued implementation of projects under execution, representing 70% of the budgeted level for Q1 2026. The Other Activities segment contributed with revenues of RON 2.2 million (+34% compared to the same period of 2025), representing 122% of the budgeted level for this period.
At the operational level, in the first quarter of 2026, the Group had under implementation photovoltaic power plant projects with a capacity of 173 MWp, compared to 137 MWp in Q1 2025, and electricity storage projects with a capacity of 381 MWh, compared to 1 MWh in the same period last year. In the Operation and Maintenance segment, the Group managed photovoltaic power plants with a total capacity of 474 MWp, compared to 455 MWp in the first three months of last year, as well as electricity storage systems with a total capacity of 2 MWh, compared to 1 MWh in Q1 2025. At the same time, in the first three months of 2026, the Group generated 7.5 GWh of electricity, compared to 0.5 GWh in the same period last year, sold 170.4 GWh of electricity, compared to 55.1 GWh in Q1 2025, as well as 30.3 GWh of natural gas.
“The financial results for the first quarter of 2026 must be analyzed in the specific context of the development and implementation stages of the projects under execution. Although operational profitability was temporarily impacted by margin compression within the energy supply segment and by the increase in direct operating costs, consolidated revenues exceeded the budgeted level for this period, confirming the maintenance of a high level of activity across the Group. At the same time, we continued investments in the development of our own project portfolio and in the consolidation of operational activities, while maintaining a financial structure appropriate for the current stage of development and a prudent approach to managing the Group’s capital and resources ,” stated Mihai Velicu, CFO of Simtel Group.
For 2026, the Group aims to continue developing its renewable energy activities through the implementation of EPC and energy storage projects within its portfolio, the consolidation of the energy supply and trading activity, as well as increasing the contribution of its own energy generation projects to the Group’s consolidated results. According to the Revenue and Expenditure Budget, in 2026 Simtel Group targets consolidated operating revenues of approximately RON 911 million, EBITDA of approximately RON 71 million, and a net profit of around RON 33 million.
###
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.
