about us | newsletter | contact | archive | members area
Pascal Robin, Sanofi Romania
The country evolution is to be taken into consideration by any foreign investors»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Bittnet posts 58 per cent increase in turnover

Bittnet, one of the most dynamic local IT companies, recorded a 58 per cent organic increase of its business in 2017, to 21.7 million RON (4.75 million Euro).

2018-02-19 12:46:03

IT integration brought revenues of 12.1 million RON (46 per cent increased as compared to 2016), IT training generated 8.1 million RON (49 per cent increase) while cloud services registered an increase of almost 400 per cent, resulting in RON 1.6 million revenue in 2017. Bittnet's net profit thus grew by 43 per cent, to 1.65 million RON (361,000 Euro), according to Romania-Insider.

"With the 2017 consolidated turnover exceeding RON 43 million, we are now moving into a new league of medium-size businesses. Nonetheless, we keep our values young and growing and we maintain our start-up and growth mentality as we see a significant potential for our continued, accelerated development" said Mihai Logofatu, CEO of Bittnet.

The company is looking to replicate the Banca Transilvania growth model and will reinvest its profits and distribute free shares to its shareholders. The company reached a market capitalization of EURO 7.5 million at the end of last year, five times higher than in April 2015, when the company listed its shares on the Bucharest Stock Exchange's AeRO market.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  1768 Views
Daily Info
New regulations adopted by ANRE will have a strong negative impact on consumers and endanger 4.500 jobs, says ACUE

The electricity distributors members of the Federation of Associations of Energy Utility Companies (ACUE) are deeply concerned about the negative impact on networks and consum...

President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, in ...

Vodafone to lay off 1,700 service center employees in Romania, India and Egypt

Vodafone, one of the biggest telecom groups in the world, will lay off 1,700 employees from its service centers in Romania, India and Egypt, in this financial year, the group'...

European Property Federation elects Liviu Tudor as new President

The European Property Federation Managing Committee elected Liviu Tudor, CEO of Genesis Property and President of the Romanian Association of Building Owners, as President of ...

Commisioner Cretu: Romania has a high level of women representation in the digital sector

Romania is one of the countries of the European Union with a high level of representation of women in the digital sector, said European Commissioner for Regional Policy, Corin...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
New Government reshuffle in Romania to take place in October

A new reshuffle of the Government is supposed to take place in early October, according to the Socialist-Democrat Party (PSD) Liviu Dragnea. He said that, together with the...

Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

1 Comment

Ambassador Klemm: Women are directly affected by digital exclusion

Women are directly affected by digital exclusion, US Ambassador to Bucharest Hans Klemm said Monday at the opening of the Digital Romania International Forum.

President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, ...

President Iohannis to hold CSAT meeting on September 4 for budget revision

Romanian president Klaus Iohannis has summoned on September 4 the members of the Supreme Council of National Defence (CSAT) to approve the budget revisions for institutions...

1 Comment

Engie acquires Romanian IoT company Flashnet, specialized in Smart Public Lighting

ENGIE announces the acquisition of 60 per cent of Flashnet, a Romanian Internet of Things (IoT) company.

1 Comment

Romania gets 450 million Euro loan from EIB for rural development programme

The European Investment Bank (EIB) is lending 450 million Euro to Romania to finance its national contribution to the implementation of the Romanian Rural Development Progr...