{"id":14321,"date":"2021-11-12T09:58:53","date_gmt":"2021-11-12T07:58:53","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?page_id=14321"},"modified":"2021-11-12T18:08:34","modified_gmt":"2021-11-12T16:08:34","slug":"financial-results-education-division","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/education-division\/financial-results-education-division\/","title":{"rendered":"Financial results \u2013 Education Division"},"content":{"rendered":"

Financial results<\/span>\u00a0<\/span>\u2013<\/span>\u00a0<\/span>Education Division<\/span><\/span>\u00a0<\/span><\/h1>\n

From a financial point of view, the evolution of the Education Division in the 9 months period ended on 30.09.2021 shows almost a recovery, managing to recover the decrease of more than 20% recorded in the first two quarters. The significant decrease in the cost of materials is due to Microsoft’s Enterprise Skills Initiative (ESI) campaign, in which both textbooks and labs have zero cost for this year. In addition, there is a high share of DevOps courses (own curriculum) where course materials are our property and\u00a0therefore\u00a0we have no licensing costs.<\/span>\u00a0<\/span><\/p>\n

The increase in team expenses, both in the sales and administrative area is generated by three components:<\/span>\u00a0<\/span><\/p>\n