Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB
 

Firebyte Games more than doubles early investors’ money on the first day of trading on BVB

Romanian mobile game developer Firebyte Games (FRB) made its debut on the Bucharest Stock Exchange’s AeRO market on Tuesday, April 6.

The company’s shares opened at a price of RON 1.48, 2.6 times higher than the price paid by the investors who participated in its private placement in February – RON 0.56 per share. In the first hour of trading, 4.6 million Firebyte shares changed their owners, representing 13% of the company’s total number of shares and more than half of the 8.8 mln shares sold in the private placement. The average price per share was RON 1.3185, 2.35 times higher than the private placement price.

After the first hour of trading, the price stabilized under the level of RON 1.3 per share. At this price, the company’s market capitalization is close to RON 45 mln (EUR 9.1 mln).

Firebyte Games develops mobile games in partnership with external partners, based on revenue-share agreements and casual games that it publishes on its own. Its best-known game is Castle Siege, released in 2018. In 2020, the company recorded operating revenues of RON 1.5 mln (EUR 0.3 mln), an EBITDA of RON 448,000 (EUR 91,000), and a net profit of RON 343,000 (EUR 70,000).

The company has ambitious targets for the next five years, partly based on increasing its team with the money raised from investors in February. Firebyte targets total revenues of RON 11.7 mln (EUR 2.38 mln) this year and a net profit of RON 1.3 mln. In 2022, it aims to double its revenues to RON 22.7 mln and more than triple its net profit to RON 4.45 mln.

By 2025, it forecasts revenues of RON 38.6 mln and a net profit of RON 9.17 mln, according to information included in the listing memorandum.

The company’s biggest shareholder is BRK Financial Group (BRK), with a 48% stake, followed by asset management company SAI Broker – 15%, and local investor Adrian Andrici – 12%.

editor@romania-insider.com

(Photo source: Firebyte Facebook page)

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB
 

Firebyte Games more than doubles early investors’ money on the first day of trading on BVB

Romanian mobile game developer Firebyte Games (FRB) made its debut on the Bucharest Stock Exchange’s AeRO market on Tuesday, April 6.

The company’s shares opened at a price of RON 1.48, 2.6 times higher than the price paid by the investors who participated in its private placement in February – RON 0.56 per share. In the first hour of trading, 4.6 million Firebyte shares changed their owners, representing 13% of the company’s total number of shares and more than half of the 8.8 mln shares sold in the private placement. The average price per share was RON 1.3185, 2.35 times higher than the private placement price.

After the first hour of trading, the price stabilized under the level of RON 1.3 per share. At this price, the company’s market capitalization is close to RON 45 mln (EUR 9.1 mln).

Firebyte Games develops mobile games in partnership with external partners, based on revenue-share agreements and casual games that it publishes on its own. Its best-known game is Castle Siege, released in 2018. In 2020, the company recorded operating revenues of RON 1.5 mln (EUR 0.3 mln), an EBITDA of RON 448,000 (EUR 91,000), and a net profit of RON 343,000 (EUR 70,000).

The company has ambitious targets for the next five years, partly based on increasing its team with the money raised from investors in February. Firebyte targets total revenues of RON 11.7 mln (EUR 2.38 mln) this year and a net profit of RON 1.3 mln. In 2022, it aims to double its revenues to RON 22.7 mln and more than triple its net profit to RON 4.45 mln.

By 2025, it forecasts revenues of RON 38.6 mln and a net profit of RON 9.17 mln, according to information included in the listing memorandum.

The company’s biggest shareholder is BRK Financial Group (BRK), with a 48% stake, followed by asset management company SAI Broker – 15%, and local investor Adrian Andrici – 12%.

editor@romania-insider.com

(Photo source: Firebyte Facebook page)

Normal
 

Romania Insider Free Newsletters