AROBS Transilvania Software (BVB symbol: AROBS), the most significant tech company on the Bucharest Stock Exchange, published the S1 2022 Report, showing a consolidated operating revenue of 128.8 million lei in the semester of 2022, a 34% increase compared to the S1 2021, a turnover of 126.7 million lei, 35% appreciation compared to the S1 of 2021, EBITDA of 36.7 million lei, a 16% increase and a consolidated net profit of 28.8 million lei, a 9% increase compared to the S1 of 2021.
“The results of the first semester of 2022 confirm our development strategy, organically and through the integration of new companies that can add value to the AROBS Group. The increase in turnover in the first six months of the year is due to contracting new clients in the software product area, increasing the number of projects in the service area, and growing more software development teams. Expanding collaboration with existing clients, continuous innovation, and development of new solutions and services also contributed to the increase in turnover. At the activity level, in 2022, we focused on extending our presence on the global market to provide services in areas such as automotive, embedded, travel technology, medical, and pharma. The three companies acquired after the private placement – Berg Software, Enea SDS (now AROBS Engineering), and Nordlogic, consolidate our expertise in embedded technology (medical, aerospace, and maritime devices) and enterprise solutions in the DACH area and the United States. The financial results of AROBS Engineering and Nordlogic will be included in the year-end reports of 2022,” stated Voicu Oprean, founder and CEO of AROBS.
The recently acquired businesses, Berg Software, Enea SDS (now AROBS Engineering), and Nordlogic, are in the integration procedure on several tiers. The integration approach in AROBS Grup is established, as in the earlier acquisition ventures, on the concentration of organizational culture similitudes, the decision-making autonomy of leadership teams with an excellent track record in execution, and the expansion of teams of specialists.
The company will persist in its acquisition expansion strategy at the same rate BVB investors have been familiarized with – by signing a new deal each trimester. The indicators for the targeted organizations stay identical: an excellent management team, organizational culture, and synergistic expertise with the Group.
“We maintain our objective of moving to the Main Market of the Bucharest Stock Exchange after completing the consolidated IFRS audit for 2020, 2021, and 2022 years. We estimate that the transfer will occur in the first half of 2023 if favorable market conditions are. Another approach we will continue is the buy-back program, to execute the Stock Option Plan, our performance reward program, and to build a partnership in growing the business with our coworkers, the company’s most valuable resource,” Voicu Oprean declared.
Concerning the development of the other solutions and software products of the AROBS Group, in the first semester of 2022, the divisions and companies persisted their growth by attracting new customers and consolidating in the Romanian market. The market opportunity is that the top business leaders are increasingly stressing the significance of digitalization, streamlining business functions, and eradicating losses. The tendency toward which the Group’s customers are steering is big data solutions and AI, shared knowledge, and SaaS.
AROBS Transilvania Software is listed on the AeRO market of the Bucharest Stock Exchange as of December 6, 2021. The enterprise currently has a market capitalization of approximately 763 million lei. As per the 2021 consolidated results of the Group, AROBS has a PER (Price-to-Earnings Ratio) of 16.14.