Bittnet Education

Under the leadership of Cristina Ratiu (Bittnet Education CEO), this business pillar contains 4 companies, offering training to adults in two areas: Technical Skills and Human Skills both in classic, face-to-face, Virtual Remote but instructor-led or eLearning format. These are:

  • Bittnet Systems SA (CUI 21181848): the parent company of the group, listed on BVB. It carries out the holding activity plus the IT Training activity, being the undoubted leader on this market in Romania.
  • Computer Learning Center SRL (Tax registration number 26065887), owned entirely by Bittnet, is an IT training company which focuses on the cybersecurity area, founded in 2009, with a long history of serving clients in the corporate area.
  • Equatorial Gaming SA (CUI 30582237) currently owned 99% by Bittnet is a game-based learning company that offers softskills training for the IT industry, both in classic and gamified form.
  • The eLearning company SA (Tax registration number 30760571), 23% owned by Bittnet, is an entrepreneurial company offering courses in eLearning format for companies.
Bittnet Education
(plus group activity)
2021 2022 FY22 vs FY21
Revenues from contracts with clients 17,465,543 21,734,492 24%
Cost of sales -9,445,109 -12,650,780 34%
Gross margin 8,020,434 9,083,712 13%
Other revenues 1,326,544 2,378,064 79%
Sales/distribution costs -3,920,537 -4,970,014 27%
Administrative expenses -5,432,176 -7,635,900 41%
of which depreciation -1,350,840 -1,896,154 40%
One-off result 900,057 1,196,728 33%
Operating profit (without one-offs) -905,792 -2,340,866 158%
SOP expense -1,066,911 -890,381 -17%
Financial result 12,110,505 3,418,675  
Mark-to-market revaluations 9,736,569 -2,888,985 -130%
Gross profit 11,037,858 1,384,155 -87%
Net profit 9,978,592 1,662,358 -83%

In addition to management and functional team development sessions, finding the right delivery resources (trainers) continues to be the division’s biggest challenge. Therefore, towards the end of the year, we have built a coherent strategy to increase this pool of resources and become a centre of excellence in delivering IT training and human skills to people in the IT industry. We expect the results of this new approach to take effect in the first half of 2023.

The year 2022 was also the time when we were able to integrate all brands in the Education Division into the same operational flow – Buyer’s Journey – and develop the entire technology infrastructure to monitor activity and allow us to measure and improve both process and performance in each functional team.

The year 2022 brought Bittnet teams the success of an accelerated increase in training sessions volume. Thus, at the end of the year we counted over 550 sessions both private and public, with over 5900 trained participants in total, representing almost a doubling of the learners attending our trainings in 2021. This volume has simultaneously led to an increase in the number of trainers to 47 active trainers, including 10 new collaborations.

In parallel with these projects, we have been working steadily on the refurbishment of the dedicated classrooms and reception for learners, which have been brought to the highest level of performance, they are now ready for courses in hybrid format creating a unique adult learning experience. Microphones that pick up sound from any corner of the classroom, or smart boards that can be tracked in real time by the learner at home, are just a few of the innovative ideas that are among the state-of-the-art equipment put in place by our teams and adopted by trainers during delivery. The new facility accommodated over 110 physical courses during 2022.