Bento targets revenues of 78 million lei and a net profit of 15.3 million lei in 2024

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Bento targets revenues of 78 million lei and a net profit of 15.3 million lei in 2024

Bucharest, March 29, 2024: Bento, Intellectually Curious (BVB: BENTO), a Romanian entrepreneurial company listed on the AeRO market of the Bucharest Stock Exchange, specialized in the development and implementation of software solutions and the provision of IT and Cloud infrastructure services, targets operating revenues of 78 million lei in 2024, a 34% increase compared to 2023, EBITDA of 21.2 million lei, +30%, and a net profit of 15.3 million lei, a 17% appreciation.

Considering the challenging technology market environment and not only, the targeted revenue and expense budget for 2024 is still planned conservatively, taking into account both recurring and ongoing projects as well as projects under negotiation and signing phases. Therefore, we are focusing on streamlining our operations while continuing to develop our own products. This approach allows us to remain agile and competitive, even in the context of global economic uncertainties and the rapid changes taking place in technology. At the same time, as every year, we aim to bring added value to our clients in the projects we implement for them and to build sustainable partnerships that support our long-term growth goals. Our strategic vision for 2024 is a balanced one, with a combination of financial prudence and development ambition, thus ensuring a solid positioning of Bento in the current technological landscape,” stated Radu Scarlat, Chairman of Bento’s Board of Directors.

In 2024, the company will continue the development of existing modules within the integrated modular software platform – “Bento Platform,” as well as other new modules to meet the needs of as many clients as possible. However, the intensity with which the investments will be made will be lower compared to previous years because their financing will be provided exclusively by the company through its own funds, considering the completion of the project with European funds “Platform for Modular Digital Transformation in the Enterprise Environment and the Public Sector.”

The company is also considering promoting the Bento Platform to existing and potential clients. This would better capitalize on the increasing demand for complex IT solutions from organizations, the need to customize them to the specific requirements of companies and public institutions, and the increased interest in digitalization solutions in the cloud.

In addition, in 2024, the company will continue to be involved in the implementation of the ongoing significant contracts, such as the development and implementation of the Bento FSM module within Distributie Energie Electrica Romania (DEER), the provision of IT infrastructure management services for a multinational oil and gas company, the completion of the implementation of the Bento FSM module within the VoltaX project, as well as other projects in various industries.

At the same time, the company’s management aims to intensify its activity in 2024 at the level of the new market vertical that it targets through the Bento FSM module, the “Service Cluster,” a complex niche that includes various sectors such as services and maintenance of HVAC systems, security, installation and maintenance of photovoltaic systems and medical equipment, as well as others.

The 2024 revenue and expense budget targeted by the company is superior to the one presented by the company’s management in the listing memorandum on the AeRO market of the Bucharest Stock Exchange in March 2022. Thus, at the level of operating revenue for 2024, the company targets a 99% increase compared to the revenues estimated in the listing memorandum, a 129% increase in EBITDA, and a 102% appreciation in net profit.

In 2023, Bento recorded operating revenue of 58.2 million lei, a 64% increase over 2022, and a net profit of 13.1 million lei, a 133% increase over the previous year. As of March 16, 2022, Bento is listed on the AeRO market of the Bucharest Stock Exchange. It is one of the few technology companies in Romania that develops its own software products. Currently, Bento has a market capitalization of approximately 182 million lei.