Romanian tech firm Simtel accepted on main trading floor of Bucharest Exchange

Romanian technology group Simtel Team (BVB: SMTL), currently traded on the alternative market AeRO of Bucharest Exchange, was accepted on the main trading floor.

The capitalisation of the company reached RON 413 million (EUR 83 million) after its shares rose by 64% over the past year.

Simtel Team has been listed on the AeRO market of the Bucharest Stock Exchange since July 2021.

The company operates in three areas of activity: as an integrator of solutions in the field of telecommunications, renewable energy, and industrial automation. It has successfully delivered projects in each of these fields to clients located both in Romania and abroad.

This year, the company started the procedures regarding the transfer of shares on the main market, publishing in May the financial results audited according to IFRS for the years 2021, 2022, and 2023.

Thus, according to international financial reporting standards, Simtel recorded in 2023 a consolidated turnover of RON 297.8 million (+118% y/y), EBITDA of RON 37.7 million (+171% y/y), and a net profit of RON 27.1 million (+205% y/y).

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