BITTNET SYSTEMS S.A. (referred to as the “Company” / “Issuer”) informs about the publication of the individual financial results for companies in which the Issuer has control (majority stake) on 31.12.2022 and which are included in the consolidation, as well as a pro-forma analysis of them, by activity sector, together with operational details about each line of activity and a letter from one of the company’s founders. The preliminary results, consolidated according IFRS standards will be published on February 24th , 2023.

This information does not take into account the consolidation adjustments according to IFRS, such as, but not limited to: the adjustments regarding the companies acquired during the financial year (TopTech and 2NET); adjustments regarding intragroup transactions (ICO) – the ICO report was published on February 1st on the BSE news feeds; the adjustments related to the sale of minority stakes during FY2022 (respectively 14% of TopTech and 11.99% of Dendrio); adjustments related to intragroup dividend distributions.

This information shows the “revenue generation capacity” of the group at the end of 2021 and at the end of 2022 by reproducing the individual results of the companies, according to the declarations submitted to the Ministry of Finance. The base year (2021) contains, along with the companies that were part of the group at that time, the TopTech and 2Net (which were acquired in 2022), in order to distinguish organic growth from acquisitions. In other words, it is about “how we start the next year” and represents a foundation for the budget that we will propose for 2023.

The full report can be consulted on the Issuer’s website dedicated to investor relations and at the link below.

Pro-forma results report 2022