{"id":11311,"date":"2021-02-26T15:40:46","date_gmt":"2021-02-26T13:40:46","guid":{"rendered":"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/preliminary-financial-results-for-fiscal-year-2020\/4-education-division-in-2020\/"},"modified":"2021-02-26T18:29:21","modified_gmt":"2021-02-26T16:29:21","slug":"4-education-division-in-2020","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2020\/4-education-division-in-2020\/","title":{"rendered":"4. Education Division in 2020"},"content":{"rendered":"

Education Division in 2020<\/h3>\n<\/div><\/div>
<\/div>

Dan Berteanu, Vicepresident for Education in Bittnet Group<\/span><\/h4>\n<\/div><\/div>
<\/div>

\"\"The Education Division had a 2020 marked by the impact of training budget cuts or freezes on a large part of our traditional customers. The impact of these reductions was felt differently in the two companies, Bittnet Training registering a minor decrease of 6% in turnover compared to 2019, compared to Equatorial which registered a significant decrease of 60%.<\/span>\u00a0<\/span><\/p>\n

Winston Churchill is credited with the line “Never let a good crisis go to waste” and this is what we have tried to do throughout 2020. That is, we have focused on the elements that we can control, namely:<\/span>\u00a0<\/span><\/p>\n

    \n
  1. improving the operational efficiency of the business, increasing the gross margin to 64% in the case of Bittnet Training and to 60% in the case of Equatorial;<\/span>\u00a0<\/span><\/li>\n<\/ol>\n
      \n
    1. generating new projects to increase our sources of income in the future, starting with a structured approach to international markets through the <\/span>DevOps Artisan<\/span><\/a> project and the partner channel, entering the IT retraining market through the <\/span>CTLN+N<\/span><\/a> project and acquiring a stake in The e-<\/span>L<\/span>earning Company, a company that has the exclusive use of SkillSoft content, the largest e-<\/span>L<\/span>earning manufacturer in the world;<\/span>\u00a0<\/span><\/li>\n<\/ol>\n
        \n
      1. restructuring teams and rethinking the business process in a more specialized and purchasing-oriented approach (Buyer Journey).<\/span>\u00a0<\/span><\/li>\n<\/ol>\n

        This crisis, in addition to testing our resilience and effort, helped us to rediscover ourselves as a team and strengthen our camaraderie and relationships. Adding the need to develop digital and human skills that most organizations became aware of with the crisis, we are confident that the next 3-5 years will be prolific for the Education division, and we will resume the process of sustainable growth we have had<\/span> until last year.<\/span>\u00a0<\/span><\/p>\n<\/div><\/div>

        <\/div>