Bento posts a 71% increase in operating revenues and a 132% increase in net profit in the first half of 2023
Bento posts a 71% increase in operating revenues and a 132% increase in net profit in the first half of 2023
Bucharest, September 20, 2023: 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, posts operating revenues of 23.2 million lei, a 71% increase compared to the same period last year and a net profit of 5.9 million lei, a 132% appreciation compared to the first six months of 2022.
“In the first half of 2023, we continued to work at the same dynamic pace that we are used to and to be next to our clients in their automation and business optimization projects. We are thrilled about the achievements during this period, especially in the difficult context that the technology industry is going through globally, highlighted by the massive number of international companies that have announced layoffs at the level of employees and the reduction in the number of projects. Therefore, the results related to the first half of 2023 reflect the quality of Bento’s services and solutions that add value to our clients’ business and confirm their trust in our expertise,” stated Radu Scarlat, Chairman of the Bento Board of Directors.
The company’s turnover contributed 16 million lei to operating revenues, up 35%. In comparison, revenues from the production of intangible assets amounted to 6.8 million lei, a 281% increase compared to the first half of last year. These revenues represent the investments in own software products, more specifically the development of the integrated modular software platform, in the context of the project with European funds of Bento, in a total amount of 25 million lei.
In the first six months of the year, the company continued its activity at the level of large projects, such as the financed project “Platform for Modular Digital Transformation in the Enterprise Environment and the Public Sector,” totaling 25 million lei, of which approximately 15 million lei are non-refundable funds, the OMEPA project, a contract with a total value of 1.7 million euros and in which the company is responsible for the delivery of a complex IT solution composed of hardware equipment and the execution of associated services, and the DEER project, a contract with a total value of 32 million lei where the company implements its own solution, Bento FSM.
Also, in addition to the mentioned projects, in the first semester of 2023, Bento was involved in other projects with companies from various industries, such as telecommunications, distribution, media, FMCG, and food production. The company has implemented and provided different Bento solutions and services within these projects.
“In the first half of the year, we are proud of the outstanding operational results, supported by the substantial efforts in the execution area and by bringing new contracts and clients and achieving the business development goals we set for ourselves. This balance between the two aspects of our business confirms our position in the market. It gives us the courage to take big steps on the path we have chosen“, stated Vlad Bodea, Bento co-founder and executive member of the Board of Directors.
On September 14, 2023, Bento announced signing a significant contract with a multinational oil and gas company, the value of which is approximately 4.1 million dollars. This contract, where Bento provides IT infrastructure management services, marks an essential stage in consolidating Bento’s position in the IT market in Romania and the region.
Regarding the budget of revenues and expenses for this year, taking into account the magnitude of the significant contract from September 14, the company does not exclude the possibility of revising it, with the management team analyzing the impact of this contract and the development of existing projects and contracts for the rest of 2023. Bento’s revenue and expense budget, as approved by the shareholders during the Ordinary General Meeting of Shareholders in April 2023, targets total revenues of 46.7 million lei, EBITDA of 11.8 million lei, and net profit of 9.3 million lei. If changes are required at the budget level, the company will inform the market through a current report or the related financial report for Q3 2023 when the mentioned analysis is completed.
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 develops its own software products. Currently, Bento has a market capitalization of 78 million lei.
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About Bento – Intellectually Curious
Bento, Intellectually Curious (2B Intelligent Soft SA) is a Romanian entrepreneurial company that develops software solutions and provides IT and Cloud infrastructure services. With over 18 years of experience, 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 project management, analysis, prototyping, development, testing, implementation, integration, and maintenance teams that can transform ideas, concepts, and needs into solutions adapted to the requirements of each client. Relying on the experience gained in optimizing and automating operational processes, the company has developed its own software products over the years, such as Bento Mobile Device Management, Bento Field Service Management, and Bento Smart Metering solutions. Bento is also a recognized regional partner for renowned vendors such as Microsoft, HPE, and CISCO.
