Simtel Team aims in 2024, at the consolidated level, for operating revenues of 394.3 million lei, a rate of profit before tax (EBITDA) of 49.2 million lei and a net profit of 35.1 million lei. At the same time, Simtel will most likely be listed on the main tier of the Bucharest Stock Exchange this summer, company officials told Energynomics.
“The budget of revenues and expenses that we propose for this year is a prudent one and takes into account all possible macroeconomic developments, as well as at the industry level. However, in the context of the dynamic developments and ever-changing challenges of the energy sector, we expect 2024 to be a year of consistent growth for Simtel. Thus, in 2024, we aim to significantly exceed the total capacity installed in 2023, of 86 MWp, thanks to the photovoltaic power plants that we will build for customers, but also on the background of the contribution that our photovoltaic parks will bring. The growth potential in the field of renewable energy still remains at a high level considering the need for companies in all industries in Romania to make the transition to green energy. At the same time, in Romania there are a number of government initiatives that support such investments, such as the National Recovery and Resilience Plan (PNRR), the projects within the Rural Investment Financing Agency (AFIR), the Modernization Fund and Electric Up 2. Taking into account these aspects, in 2024 we want to capitalize on all the existing opportunities in order to continue the development of the group and consolidate the position of market leader in this field”, said Mihai Tudor, CEO and executive member of the Board of Directors of Simtel Team, according to a press release.
In 2024, the area of installation of turnkey solutions of photovoltaic power plants for the company’s customers, as well as that of production and energy supply remain at the center of Simtel’s strategy, but in parallel the company aims to continue diversifying its sources of income by offering innovative energy storage solutions , the development of networks of charging stations for electric cars, the implementation of Virtual Power Plant (VPP) measurement and control solutions, as well as the launch of a line of autonomous robots for industrial cleaning.
In terms of electricity production, in 2024, Simtel is counting on the potential of its own photovoltaic parks that the company develops and operates, especially because some of them are already at the ready-to-build stage and are about to enter the implementation stage . The company currently owns six such parks in various stages of implementation – in Pleșoiu, where the first phase of the project was completed in August 2023, Anina, Ianca, Giurgiu, Mangalia and Salonta. At the time of completion of the works for all the projects, they will have a total installed power of approximately 75 MWp DC and will generate an annual production of approximately 100 GWh.
At the same time, for the photovoltaic park in Giurgiu, the company announced on March 25, 2024, obtaining non-refundable financing under the National Recovery and Resilience Plan (PNRR), in the amount of approximately 60.6 million lei (without VAT) for the construction of the photovoltaic power plant within this park. The Giurgiu photovoltaic power plant will have a planned installed capacity of 52 MWp DC (maximum power at the level of the panels). The land on which the power plant will be built is owned by the company, the project having already obtained all the necessary authorizations to start the implementation – technical documentation, Technical Approval for Connection, construction authorization. The company estimates that the project will be completed in Q4 2024 – Q1 2025.
Regarding the supply of electricity, the company expects that through GES Furnizare S.R.L. (GES), entity in which it holds a 62% stake, to continue attracting more and more customers. GES has succeeded in a very short period of time since obtaining the license from ANRE, in January 2024, to already sign three contracts for the supply of electricity for a standard period of 12 months with customers in various fields, such as mass production plastics, retail and the operation of logistics spaces.
Over the past four years, Simtel Team has designed and commissioned numerous PV power plants for clients in various industries. The photovoltaic parks for which Simtel provides Operation, Maintenance and Service services total over 284 MWp installed and produce 352,000 MWh annually, the equivalent of the consumption of 106,000 homes in a year, reducing greenhouse gas emissions by 217,000 tons per year , thus helping to protect the environment and having a positive impact on the health and quality of life of communities, especially in densely populated urban areas.