2015 Preliminary results Conference Call Recording

Please see attached the recording and the support presentation of the conference call presenting the preliminary results for FY 2015, held on February 23rd at the BVB.

160223 – BITTNET BVB preliminary results presentation

and the conference audio recording:


Current Report 14 – Changes in the calendar of financial communciation

Bittnet Systems S.A. (hereinafter referred to as “the Company”) hereby informs about the new version of the calendar of financial communication for 2016.

160304-CR6-changes in the financial calendar


Current Report 13 – Cisco Gold Certification.

Bittnet Systems S.A. (hereinafter referred to as “the Company”) informs the shareholders about the achievement of the “Cisco Certified Gold Partner”.

160301 – CR5 – 2016 – cisco gold certification

Prelim Results Conference Call

For the preliminary results conference call please use the following details:

1.  Please join my meeting, 23 feb. 2016 at 10:30 EET.

2.  Use your microphone and speakers (VoIP) – a headset is recommended. Or, call in using your telephone.

Belgium:  32 (0) 28 93 7001
France:  33 (0) 170 950 585
United Kingdom:  44 (0) 20 3713 5010
United States:  1 (571) 317-3117

Access Code: 946-050-165
Audio PIN: Shown after joining the meeting

Meeting ID: 946-050-165

Online Meetings Made Easy®

Not at your computer? Click the link to join this meeting from your iPhone®, iPad®, Android® or Windows Phone® device via the GoToMeeting app.

FY 2015 Preliminary Results Availability

Bittnet Systems S.A. (hereinafter referred to as “the Company”) informs the shareholders about the availability of the Preliminary Results for fiscal year 2015 – attached to this Current Report and published on the internet at

BNET – 31.12.2015 – Preliminary Results – EN

On Tuesday, February 23 2016 at 10.30 A.M., the Company will host an information meeting at Bucharest Stock Exchange, 14th Floor, Aquarium Room. The videocast will be later available via http://www.bittnetsystems.ro/investors/

The meeting will be held in Romanian and English and questions can asked via investors@bittnetsystems.ro

Presentation material for the meeting will be available approx. one hour before the meeting at http://www.bittnetsystems.ro/investors/ and during the event.

Contact details: investors@bittnet.ro , 0722.217.264

Dan Berteanu – Member of the Advisory Board

Dan Berteanu – Member of Advisory Board

LinkedIn Profile



  • 1990 – 1995 Universitatea “Politehnica” din Bucuresti, Master of Science, Bio – Informatics
  • 2000 – 2015, several international certification in Adult Learning, Return on Investment, Project Management, Coaching and Gamification

Professional experience:

  • October 2014 – Present – Equatorial – Managing Partner Equatorial
  • January 2009 – October 2014 – United Business Development – Partner
  • September 2002 – December 2008 – AchieveGlobal Romania – General Manager
  • November 1997 – August 2002 – NCH Corporation – Regional Sales Manager
  • June 1996 – November 1997 – RomWest EURO – Area Sales Manager

Percent of shares held in the Company

Currently Dan does not holds any shares in the Company.

Additional Regulatory Disclosure Info:

  • Dan is a visiting Professor for Polytechnic University
  • Currently Dan is an active partner in: United Business Dynamics SRL, Equatorial Training SRL and Equatorial Gaming SRL.
  • Within the last five years Dan has not been prohibited by the court to act as a member of managing or supervisory bodies in commercial law companies and partnerships
  • Within the last five years there have been one case of liquidation for an entity in which Dan was a member of management team
  • Dan does not perform activities competitive to the activities of the issuer.

Current Report 12 – Information regarding ITIL authorization

Bittnet Systems S.A. (hereinafter referred to as “the Issuer”) informs the shareholders about receiving the ITIL authorized training center status.


151103 CR12 – RO+EN – ITIL authorizations

Owner's Manual

This aims to provide an understanding of the company, it’s way of generating value, it’s prospects and policies.

What we do

Bittnet is in the knowledge bussiness. We accumulate knowledge and transfer it to our customers in two forms: IT training and IT Solutions Integration.

IT training addresses the need of professionals from IT departments of Romanian and foreign companies to be able to implement, optimize, maintain and troubleshoot the IT infrastructure of their companies, while always keeping up to date with new developments in this very fast moving field. We cover the waterfront in ‘administration’, from networking (switches, routers, wireless access points), to computers, servers, datacenter and virtualization, security, telephony, telepresence, collaboration, mobility, BYOD, databases, etc. We offer access to official curriculum from the most famous vendors in the IT landscape: Cisco, Microsoft, Oracle, IBM, VMWare, ITIL, Linux, PMP, etc.

IT solutions integration addresses the need of companies to have functional, dependable, resilient IT infrastructures that enable and support them in doing their business. This means that our team consults customers about their needs, their development plans, identifies IT solutions that will respond to the project objectives after which we sell, implement, optimize, maintain and troubleshoot the proposed solutions. The solutions that we deliver also cover the entire spectrum of technologies and vendors in the IT landscape.

How do we do it

In order to fulfill customer needs in the above mentioned areas of activity, we continually scout for talent. We recruit, train and professionally develop young persons willing to learn and work with us and also share our company values: Integrity, Flexibility, Competence and Performance. Our team continuously learns and applies the newest knowledge available in their respective fields of specialization, in order to be able to transfer it to customers. We are highly certified and continually expand in this area. Our technical and project management abilities are certified by world class IT vendors.

With training being a definitory part of our organization’s DNA, when we recruit we favor character and integrity, intelligence, desire to work and learn instead of “years of experience”. This allows us to form individuals in the Bittnet way, and also depend on our team members to do the right thing without being constantly overseen, controlled and tied down by countless procedures, checks and balances. This systems works if populated with bright and honest individuals, and in turn, helps us attract this type of team members. Geniuses hate being constrained.

How we manage the company

In line with Warren Buffett’s philosophy, which is also reflected in an old Romanian adage, we always try to put ourselves in the shoes of our interlocutor. We strongly believe in sharing the risks and the results, and aligning the interests of all stakeholders: customers, suppliers, employees, management and shareholders:

  • all people involved in the business are measured and compensated on a results basis, so that managers, employees and contractors always have in mind the interest of the customer AND company profitability,
  • the management of the company is ensured by the main shareholders (and founders), so that the interest of managers, employees and shareholders are aligned,
  • furthermore, the founders / manager’s wealth is significantly linked to the company, being the only important source of wealth, strengthening the alignment of interests with the shareholders.

The opportunity that we have

The company activates in an exciting and fast moving field – Information Technology. We have until now managed to grow at a significant rate, and always being profitable. The snowball has acquired significant momentum. On the other hand, the current size of the company, coupled with the trend of consolidation across all industries, means that only correct direction to go is still upwards. That is why we intend to continue to invest any available source in the development of the company.

For shareholders, this translates into a “fully reinvested profits” policy, which also equates with a “no dividend” policy. Also in line with Warren Buffett’s philosophy, we intend to maintain this reinvestment policy for as long as the growth prospects of the company outweigh the growth prospects of the general market. In the long term, the value that a company creates is generally reflected in the value of the company itself, and it’s stock price. We believe that we can maintain a growth rate above the one of the general market for some time now. Our current operational and delivery capacity is such that we can extract accelerated profit growths from the increases in revenues – and that is our strategy: to keep growing the revenues in similar “gross margin” conditions, which will generate more money to cover a generally fixed structure of costs, therefore significantly adding to the bottom line.

Risk Mitigation

There are numerous risks that we face as a company, and that investors face when buying shares. They are described in the Information Memorandum. On top of the company specific risks that come from the line of business and the size of the company, there is the general risk of investing in equity. On the other hand, the management has it’s own fortunes tied to the well being of the company, so we share the same risks and their materialization would affect us more than other investors. We believe that we have a good opportunity for continuing the growth of the company and that the foreseeable results overweigh the risks. That is why we are running this company after all!


Semiannual report – June 30th 2015

Please find attached the Semiannual Report for the period between January 1st 2015 and June 30th 2015 and the annexes:

Current report 7 – Information about the signing of a significant contract

Bittnet Systems S.A. (hereinafter referred to as “the Company”) informs the shareholders about the signing of a framework contract, with multiple anticipated deliveries during the second semester of 2015.

BNET CR7 signing significant contract