Bento continues to grow in revenue and net profit in the first nine months of 2023 – 39 million lei in revenue and 12.1 million lei in net profit

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 revenue of 39 million of lei in the first nine months of 2023, a 103% increase compared to the same period last year, and a net profit of 12.1 million lei, a 246% increase compared to the first nine months of 2022.

“2023 has been a year of consolidation for Bento, demonstrating our ability to adapt and excel even in an ever-changing economic environment. The increases in key indicators in the first nine months of the year reconfirm our development strategy and our commitment to innovation in the services and solutions we provide to our clients. At the same time, the performance at the level of the financial results of the first nine months of this year is the result of the sustained efforts of the Bento team and the valuable partnerships that we have cultivated over the years”, declared Radu Scarlat, Chairman of the Bento Board of Directors.

The company’s turnover contributed 27.8 million lei to operating revenue, up 77%, while revenue from the production of intangible assets amounted to 10.4 million lei, a 203% increase compared to the same period 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 nine months of the year, the “Software Development” (DEV) division contributed 38% to the turnover for the analyzed period. Within DEV, revenues related to the development and implementation stages of software projects had a 70% contribution to turnover, and revenues related to maintenance and evolution services, which have a recurring character, contributed 30%. The division, “IT, Infrastructure and Cloud” (IT), which provides IT design and implementation services and equipment and software resale, contributed 62% to the turnover generated in the first three quarters of 2023.

“The results recorded in the first nine months of 2023 reflect our company’s numerical growth and Bento’s strategic maturation. Investments in developing our own products and our involvement in projects from various sectors represent the foundation of our vision and the trust that clients place in Bento’s expertise “, stated Vlad Bodea, co-founder of Bento and member of the Board of Directors.

Considering the dynamic activity this year and the company’s involvement in complex projects with companies from multiple industries, such as utilities, energy, photovoltaics, telecommunications, distribution, media, FMCG, or food production, in October of this year, the company revised the 2023 revenue and expense budget.

The 2023 budget revision was made considering the analysis carried out by the company’s management regarding the impact of the significant contract announced in September and the stage in which the development of the existing projects and contracts is for the rest of 2023. Thus, this year, Bento targets operating revenue of 55.8 million lei, a 20% increase over the initial estimate, and a net profit of 12.3 million lei, a 33% increase over the original forecast.

As of March 16, 2022, Bento is listed on the AeRO market of the Bucharest Stock Exchange. It is one of Romania’s few technology companies that develops its own software products. Currently, Bento has a market capitalization of 129 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 19 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.