BITTNET SYSTEMS S.A. (referred to as the “Company” / “Issuer”) informs investors and interested parties about the availability of the IFRS consolidated financial results, preliminary, unaudited, for the fiscal year 2022. The report includes the CEO Letter, the updated structure of the Bittnet group, the presentation of the operational activities of the two divisions, Education and Technology, the analysis of the IFRS consolidated financial results, as well as the indicative budget proposal for the year 2023. The report is available in html format, easy to navigate by section, on the company’s website dedicated to the relationship with investors, HERE, as well as in pdf format, attached to this current report.
Key financial indicators of 2022:
- Turnover: RON 192 million (+71% vs 2021)
- Gross margin: RON 42 million (+74% vs 2021)
- Operating profit: RON 8.5 million (+119% vs 2021) ·
- Gross profit: MINUS 1.92 million
- Cashflow from operating activity: RON 17.86 million
- Cash position on 31.12.2022: RON 42.3 million
- Equity: RON 57.83 million (+10% vs 2021)
For 2022, Bittnet group achieved consolidated revenues of RON 192 million, +71% compared to 2021, and an operating profit of RON 8.5 million (+119% vs 2021). The gross result is a loss of 1.92 million, the defining element that contributed to this was the financial result, that decreas in 2022, compared to a profit of 9 million in 2021. Thus, the financial result marks a loss of RON 7.6 million in the analyzed period. In proportion of 75% explained by the different impact of the non-cash mark-to-market revaluations of our holdings of shares in other listed companies which are revalued quarterly through P&L depending on the evolution of the Market quotations.
Conference call for analysts & investors:
The presentation conference of the unaudited preliminary financial results will take place on February 28, 2023, starting at 11:00, Romanian time (EET). Access link available HERE. The annual meeting with analysts and investors will take place during “BNET Investor Day” event, scheduled for April 20, 2023, at the Company’s headquarters in Bucharest, at ONE Cotroceni Park.