Bento post 19.2 million lei revenue in the first nine months of 2022

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Bento post 19.2 million lei revenue in the first nine months of 2022

Bucharest, November 17, 2022: 2B Intelligent Soft (Bento, Intellectually Curious, BVB: BENTO), a Romanian entrepreneurial company specialized in the development and implementation of software solutions and the provision of IT and Cloud infrastructure services, post 19.2 million lei revenue in the first nine months of 2022, a 1% increase compared to the same period in 2021 and the net profit reached 3.5 million lei.

We are proud to report an increase compared to the same period last year in the most important operational indicators that we follow, registering an increase in the turnover of both the Software Development division and IT, Infrastructure, and Cloud projects. Due to the late delivery of hardware equipment, which affects all players in this ecosystem, we register a decrease in the turnover related to the resale of IT equipment compared to the first nine months of 2021. In the 4th quarter we have already started to recover this difference. Also, in the third quarter of the year, we started the project financed through the Competitiveness Operational Program (POC 2014-2020), which we also mentioned in the H1 2022 report. This project will have an impact operationally and financially from 2023. Looking at the current year, we estimate that we will end 2022 with financial results in line with the estimated budget, even in the context of hardware delivery delays,” stated Radu Scarlat, Chairman of the Bento Board of Directors.

Of the total revenue generated by both divisions in the first nine months of 2022, approximately 40% of it was recurring revenue, a slight increase compared to 2021. The company is seeing steady growth in the absolute value of recurring revenue, namely, revenue related to support and maintenance services. Recurring revenues have a substantial weight in the results of both divisions. They represent the stability factor for Bento’s activity, indicating the maturity of the services delivered.

The turnover related to the first nine months of 2022 reached 15.7 million lei. The “Software Development” Division (DEV) contributed 49% to the turnover for the first nine months of 2022. DEV includes software development and implementation – these activities having a 66% contribution within this business line and maintenance and development services – activities in this category representing 34% of revenues. The second business line, IT, Infrastructure and Cloud (IT), consisting of services and implementation, hardware, and software resale, contributed 51% to the revenues generated during this period.

In line with the development strategy we presented in the memorandum prepared for the listing on the AeRO market of the Bucharest Stock Exchange, which we support, we continue to capitalize on our intellectual value, manifested in the form of software products, such as Bento FSM and Bento MDM. We are investing the raised capital both in the technical development of software solutions and in consolidating our market position, sales teams, and partnerships, which must target the increase in the exposure of these products. With this in mind, in the third quarter of 2022, we completed the reorganization of the business development teams, thus managing to implement the plans aimed at diversifying the pipeline of projects as well as the markets in which we are present,” stated Vlad Bodea, co-founder of Bento.

Bento is listed on the AeRO market of the Bucharest Stock Exchange as of March 16, 2022, being one of the few technology companies in Romania that develop its software products. The products and solutions provided by Bento are used by local and international companies operating in diverse fields such as energy, FMCG, utilities, telecommunications, healthcare, agriculture, IT, media, the food industry, distribution, transport, and services.


About Bento, Intellectually Curious

Bento, Intellectually Curious (2B Intelligent Soft) is a Romanian entrepreneurial company listed on the AeRO market of the Bucharest Stock Exchange (BVB: BENTO), specialized in developing software solutions and providing IT and Cloud infrastructure services. During its 17 years of activity, Bento has developed and implemented complex projects with applicability in multiple industries for multinational companies from Romania, the USA, and Switzerland. The company has complementary teams of project management, analysis, prototyping, development, testing, implementation, integration, and maintenance that can transform ideas, concepts, and needs into solutions adapted to the requirements of each client. Relying on the experience gained in the optimization and digitization of operational processes, the company has developed its own software products, such as Mobile Device Management, Field Service Management, and Smart Metering solutions, used especially by companies in the energy and utility sectors. Bento is also a recognized regional partner for renowned vendors such as Microsoft, HPE, and CISCO.