Simtel reports, at a consolidated level, operating income of 152.4 million lei in the first quarter of 2026, up 91% compared to the same period last year, an evolution supported mainly by the expansion of the energy supply and trading activity, as well as the continued implementation of ongoing EPC projects. Revenue from current activity (turnover) reached 152.1 million lei, up 93% compared to the first quarter of 2025, which corresponds to a degree of achievement of 103% compared to the budgeted level for the first quarter of this year.
In the first quarter of 2026, the Group generated an EBITDA of 0.6 million lei, compared to 8.7 million lei in the same period of the previous year, while the consolidated net loss was 3.8 million lei, compared to a consolidated net profit of 5.8 million lei in the first three months of last year. The evolution of profitability was influenced by the particularities of the portfolio of EPC projects under execution, the implementation phases and the calendar of recognition of the margins related to them, as well as the implementation of the commercial strategy oriented towards the extension and re-offering of contracts for existing customers which involved temporary adjustments of commercial margins in the energy supply segment. However, the results recorded in the first quarter of 2026 were, overall, in line with the direction envisaged in the Group’s Income and Expenditure Budget for this period.
“The first quarter of 2026 reflects the continuation of our accelerated development strategy and the consolidation of the Simtel Group’s position in key business segments. The strong revenue growth was mainly supported by the expansion of the energy supply and trading activity, but also by the continued implementation of the EPC projects in the portfolio. At the same time, the profitability of the quarter was temporarily influenced by the structure of the projects under execution, the weather conditions in the analyzed period, which affected the pace of field works, as well as the commercial strategy adopted in the energy sales segment, oriented towards consolidating the portfolio of existing customers by extending the contracts that have reached maturity. We continue to focus on expanding the activity in the Group’s strategic segments, developing our own project portfolio and consolidating our presence in the renewable energy market, in a context in which we continue to see significant growth opportunities in the medium and long term”, stated Mihai Tudor, CEO of the Simtel Group.
From the perspective of the operational segments, the Energy Sales segment had the highest contribution to the Group’s consolidated revenues in the first three months of 2026, generating revenues of 113.5 million lei, up 165% compared to the same period last year and representing 122% of the budgeted level for Q1 2026. The segment’s evolution reflects the growth of electricity supply activity and the increase in traded volumes in the analyzed period.
The EPC Projects segment generated revenues of 36.4 million lei, up 6% compared to the same period of the previous year, on the back of the continued implementation of ongoing projects, representing 70% of the budgeted level for Q1 2026. The Other Activities segment contributed revenues of 2.2 million lei (+34% compared to the same period of 2025), representing 122% of the budgeted level for this period.
At the operational level, in the first quarter of 2026, the Group had photovoltaic power plant projects under implementation with a capacity of 173 MWp compared to 137 MWp in the first quarter of 2025 and electricity storage projects with a capacity of 381 MWh compared to 1MWh in the same period last year. In the operation and maintenance area, the Group managed photovoltaic plants with a total capacity of 474 MWp compared to 455 in the first three months of last year and electricity storage systems with a total capacity of 2 MWh compared to 1 MWh in the first quarter of 2025. At the same time, in the first three months of 2026, the Group generated a production of 7.5 GWh of electricity, compared to 0.5 GWh in the same period last year, sold 170.4 GWh of electricity, compared to 55.1 GWh in Q1 2025, as well as 30.3 GWh of natural gas.
“The financial results of the first quarter of 2026 must be analyzed in the specific context of the development and implementation stages of the projects under execution. Although operational profitability was temporarily affected by the compression of margins in the energy supply segment and the increase in direct operating costs, consolidated revenues exceeded the budgeted level for this period, which confirms the maintenance of a high level of the Group’s activity. At the same time, we continued to invest in the development of our own project portfolio and in the consolidation of operational activities, maintaining a financial structure appropriate to the current stage of development and a prudent approach to managing the Group’s capital and resources,” said Mihai Velicu, CFO of the Simtel Group.
For 2026, the Group aims to continue developing its activities in the field of renewable energy, by implementing the EPC and storage projects in the portfolio, consolidating the energy supply and trading activity, as well as increasing the contribution of our own energy production projects to the Group’s consolidated results. In 2026, according to the Revenue and Expenditure Budget, Simtel Group targets, at a consolidated level, operating income of approximately 911 million lei, EBITDA of approximately 71 million lei and a net profit of approximately 33 million lei.
