{"id":14303,"date":"2021-11-12T09:36:32","date_gmt":"2021-11-12T07:36:32","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?page_id=14303"},"modified":"2021-11-12T18:08:15","modified_gmt":"2021-11-12T16:08:15","slug":"financial-results-technology-division","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/technology-division\/financial-results-technology-division\/","title":{"rendered":"Financial Results \u2013 Technology Division"},"content":{"rendered":"

Financial Results<\/span>\u00a0<\/span>\u2013<\/span>\u00a0T<\/span>e<\/span>chnology<\/span>\u00a0Division<\/span><\/h1>\n<\/div><\/div>
<\/div>

There are two factors that contributed to the improvement in the technology division’s financial results for the 9 months compared to the previous year. The first is related to the significant increase in the share of services in the division’s revenues, due to the need of customers to upgrade existing infrastructures following the inability to deliver new equipment caused by the semiconductor crisis. The second factor is the stabilisation of hardware delivery times. Thus, the gap caused by the initial extension of delivery deadlines could be bridged and business is now operating in new parameters. Gross margin increased by 40% compared to the previous year, resulting in a 3<\/span>3<\/span>2% increase in operating profit in the first nine months of 2021 compared to 9 months in 2020.\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n<\/div><\/div>

<\/div>
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u202f<\/span><\/b>\u00a0<\/span><\/td>\n\n

30\/Sep\/21<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

30\/Sep\/20<\/span><\/b>\u00a0<\/span><\/td>\n\n

Evolution<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Revenues from contracts with clients<\/span><\/b>\u00a0<\/span><\/td>\n\n

\u00a073,842,251\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

\u00a068,941,735\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

7,11%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Revenues from the provision of services<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a017,483,711\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a013,545,042\u00a0<\/span>\u00a0<\/span><\/td>\n\n

29,08%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Sale of goods<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a056,358,540\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a055,396,694\u00a0<\/span>\u00a0<\/span><\/td>\n\n

1,74%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Cost of sales\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

\u00a060,123,789\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

\u00a059,184,403\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

1,59%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cost of sale of goods\/materials<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a048,552,480\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a048,768,947\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-0,44%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cloud services<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 4,199,042\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 3,650,522\u00a0<\/span>\u00a0<\/span><\/td>\n\n

15,03%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Man-hours<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

7,402,267<\/span>\u00a0<\/span><\/p>\n<\/td>\n

6,764,933<\/span>\u00a0<\/span><\/td>\n\n

9,42%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Gross margin<\/span><\/b>\u00a0<\/span><\/td>\n\n

\u00a013,718,462\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

\u00a09,757,333\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

40,60%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Other incomes<\/span><\/b>\u00a0<\/span><\/td>\n\n

\u00a02,588,870\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 119,786\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

2061,25%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Sales\/distribution expenses<\/span><\/b>\u00a0<\/span><\/td>\n\n

\u00a04,099,973\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

\u00a03,735,469\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

9,76%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Staff expenditure<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

3,554,610<\/span>\u00a0<\/span><\/p>\n<\/td>\n

3,377,389<\/span>\u00a0<\/span><\/td>\n\n

5,25%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Advertisement<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 545,363\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 358,079\u00a0<\/span>\u00a0<\/span><\/td>\n\n

52,3%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Administrative costs<\/span><\/b>\u00a0<\/span><\/td>\n\n

\u00a05,011,133\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

\u00a04,477,976\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

11,91%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Man-hours<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

2,556,326<\/span>\u00a0<\/span><\/p>\n<\/td>\n

2,424,996<\/span>\u00a0<\/span><\/td>\n\n

5,42%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Travel and transportation expenses<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 60,599\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 40,775\u00a0<\/span>\u00a0<\/span><\/td>\n\n

48,62%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Headquarters rent<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 151,186\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 31,722\u00a0<\/span>\u00a0<\/span><\/td>\n\n

376,6%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Rental of equipment<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 158,848\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 49,240\u00a0<\/span>\u00a0<\/span><\/td>\n\n

222,6%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Materials<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 86,375\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 101,355\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-14,78%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Amortization<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 894,255\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 950,704\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-5,94%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Insurance<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 86,287\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 91,291\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-5,48%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Telecom and post expenditure<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 54,890\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 60,789\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-9,7%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Bank fees<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 44,862\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 30,696\u00a0<\/span>\u00a0<\/span><\/td>\n\n

46,15%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other services performed by third party<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

773,015<\/span>\u00a0<\/span><\/p>\n<\/td>\n

512,254<\/span>\u00a0<\/span><\/td>\n\n

50,90%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other expenditures<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0 294,613\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 184,154\u00a0<\/span>\u00a0<\/span><\/td>\n\n

59,98%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Operating profit<\/span><\/b>\u00a0<\/span><\/td>\n\n

\u00a07,196,227\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n

\u00a01,663,674\u00a0<\/span><\/b>\u00a0<\/span><\/td>\n\n

332,55%<\/span><\/b>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/div><\/div><\/div><\/div>