Bento – Intellectually Curious (BVB: BENTO), a Romanian entrepreneurial company, specialized in developing and implementing software solutions and delivering IT and Cloud infrastructure services, reports a turnover of 27.3 million lei, an increase of 78% compared to 2020, EBITDA of 5.3 million lei, +124% compared to 2020 and a net profit of 4.5 million lei, an appreciation of 144% compared to the previous year. The results for 2021 are audited.
“In 2021, we had a dynamic activity at the business level, managing to register growth on all levels. In addition, in the second half of the year, we prepared the company for listing on the AeRO market of the Bucharest Stock Exchange, successfully closing the private placement at the end of November. The financial results recorded last year crown the titanic work done in the last ten years in optimizing processes within our activity and the constant investments made in the development of our own software products, but also the quality of the delivered IT and Cloud Infrastructure services and the strategic partnerships signed with Microsoft, HPE or CISCO. Thus, we managed to increase both the client portfolio and the revenue. For this year, we intend to continue investments in the development of our own products, BENTO Field Service Management and BENTO Mobile Device Management and to start expansion internationally, in countries in the nearby region, such as Hungary, Serbia or Bulgaria,” stated Radu Scarlat, Chairman of the BENTO Board of Directors.
Regarding the division of turnover by business lines, 65% of the total turnover was generated by the IT, Infrastructure, and Cloud division, while the remaining 35% is the contribution brought by the Software Development division. The software development division includes software development, implementation, maintenance activities, project management and development services. In 2021, the first category of activities contributed 68.4% to the turnover generated by this division.
BENTO has a diversified client portfolio within the two business lines, consisting of multinational companies from Romania, the USA, and Switzerland, which continued to expand in 2021. Most of the revenues obtained in 2021 come from companies active in energy and utilities, 65%, while the remaining 35% are revenues from companies operating in telecommunications, FMCG, health, media, agriculture, IT, services, FMGC distribution, food industry, and transportation.
“Of the total revenues generated in 2021, approximately 32% were recurring revenues. We are pleased to see a steady increase in the absolute value of recurring revenue. These are revenues associated with support services and updates to existing client applications. Recurring revenues have a substantial share in the results of both company divisions. They represent the stability factor for BENTO’s activity, being an indicator of the maturity of the services we deliver,” stated Vlad Bodea, BENTO Board Member and cofounder.
For 2022, according to the revenue and expense budget that will be subject to approval in the General Meeting of Shareholders on April 21, BENTO estimates total revenues of 28.4 million lei, EBITDA of 5.8, and a net profit of 5 million lei. The company intends to continue investing this year in developing its own products, BENTO Field Service Management (FSM) and BENTO Mobile Device Management (MDM). BENTO MDM is a suite of applications dedicated to companies that deliver services through teams distributed in the field. At the same time, BENTO MDM is a system dedicated to companies that manage a substantial fleet of mobile devices, such as tablets, smartphones, POS, etc. According to the company’s estimates, the potential for BENTO FSM is high. The total immediate market for this product is about 125 million euros.
In March 2022, BENTO announced the signing of a significant partnership on implementing BENTO FSM within Clarke Energy Romania. The solution will automate the activities of service engineers within Clarke Energy Romania. Implementing such a system is the first step towards streamlining these operations within the company.