{"id":26641,"date":"2025-08-29T14:54:19","date_gmt":"2025-08-29T11:54:19","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?page_id=26641"},"modified":"2025-08-29T18:01:17","modified_gmt":"2025-08-29T15:01:17","slug":"q2-2025","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q2-2025\/","title":{"rendered":"(EN) 2025 S1 BNET Report 2025 – Letter from the CEO"},"content":{"rendered":"
\"\"<\/div><\/div>
\"\"<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>
We are making the Bittnet Group Half Year Report \u2013 H1 2025<\/strong> available to investors as a web page that is easy to follow and navigate. We are waiting for everyone’s feedback at the e-mail address investors@bittnet.ro<\/a><\/strong>. Thank you!<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>

Letter from the CEO<\/h1>\n<\/div><\/div>
<\/div>

Dear investors,<\/h3>\n

The second quarter of 2025 was strongly influenced by external factors. The presidential elections, the period of uncertainty until a new government, and discussions regarding the risk of a downgrade of the country’s rating led to a freezing period for public sector projects.<\/p>\n

\"\"<\/p>\n

In the first half of the year, the Bittnet group recorded consolidated revenues of 103.9 million ron, -38% compared to the same period in 2024. The gross margin followed the same trend, reaching 19.5 million ron (-38% vs H1 2024), but maintaining a higher share of services in overall turnover meant that the gross margin remained at a level of 19%.<\/h4>\n

Consolidated EBITDA (excluding the provision for an litigation) was -7.1 million ron, compared to +7.8 million ron in H1 2024. Operating result was -12.3 million ron, compared to an operating profit of almost 3 million ron in the same period last year.<\/h4>\n

The financial result contributed negatively, with -4.2 million ron, composed of:<\/p>\n