In 2023, Simtel Team targets a consolidated turnover of RON 296.1 million lei and a net profit of RON 25.6 million

Deniza Cristian 27/03/2023 | 13:34

Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and a national leader in the field of renewable energy, targets in 2023 a consolidated turnover of 296.1 million lei, EBITDA of 31.5 million lei and a net profit of 25.6 million lei.


The consolidated Revenue and expense budget for 2023 includes results expected to be generated by Simtel Team, Simtel Solar, the entity from the Republic of Moldova in which Simtel Team owns the entire stake, as well as ANT Power Energy and Agora Robotics, companies in which Simtel Team holds a 51% stake.

Simtel Team is in a privileged position to provide solutions to major global issues, such as global warming and the green energy shortage, through the services and products we provide to clients. This year is predicted to be even more intense than 2022 as more and more companies consider investing in renewable energy. The reasons why companies implement steps in this direction are related, on the one hand, to the reduction of energy costs, and on the other hand, to the improvement of sustainability performance from an ESG perspective. At the same time, significant European funds dedicated to the green energy sector are available through PNRR. Thus, from our position, we want to benefit from our resources and expertise and capture a good share of the potential clients in this field. The revenue and expense budget proposed for this year takes into account all the mentioned aspects, and we are confident that we are on the right track to achieve as many successes as possible, both at the level of our teams and for Simtel shareholders,” stated Iulian Nedea, co-founder and CEO of Simtel Team.

Regarding the individual revenue and expense budget, in 2023, Simtel targets a turnover of 279 million lei, a 104% increase compared to 2022, and a net profit of 24.2 million lei, double than in 2022. A significant share of the revenue will consist of the renewable energy projects that Simtel has for 2023 and those it expects to attract during the year.

In terms of the construction of photovoltaic power plants, Simtel estimates that in 2023 will commission photovoltaic power plants with an installed capacity of approximately 80 MWp, compared to 45 MWp installed in 2022. The management is also considering increasing the number of projects in the Republic of Moldova, where it opened a subsidiary at the end of last year.

In addition to the industries in which it has established experience, such as retail, production, and logistics spaces, the company is considering entering a new client segment, the agricultural sector. More and more farms that use irrigation systems, especially during drought, have high energy consumption, which can be reduced by implementing photovoltaic panels.

In the last four years, Simtel Team has designed and commissioned numerous photovoltaic power plants for clients active in various industries. The photovoltaic parks operated by Simtel mean over 200 MWp installed, which produce 260,000 MWh annually, corresponding to the consumption of 73,000 homes in a year, reducing greenhouse gas emissions by 156,000 tons per year, thus helping to protect the environment and having a positive impact on the health and quality of life of communities, especially in densely populated urban areas.

Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange as of July 1, 2021, currently having a market capitalization of approximately 211 million lei.

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