One year since the listing on the AeRO market for Bittnet

Bittnet (BNET) celebrates today, 15 April, one year since the listing on the AeRO market.


Te event was celebrated through the official opening of the transaction session together with the Bucharest Stock Exchange representatives (BVB), brokers, analysts, investors and media.

“In our first year of activity on the stock exchange we managed to reach the operational objectives we proposed: increasing the sales and technical teams, obtaining new competencies – such as Cisco Gold Crtified Partner – and launching new business lines – such as Citrix Training Center and ITIL® Authorized Training Partner. These victories lead to an accelerated growth of the business, growth which places us in the top companies in the Deloitte Fast 500 from Europe, Middle East and Africa (EMEA)”, says Mihai Logofatu, CEO and co-founder of Bittnet.

The first year on the stock exchange for Bittnet ment 1.587 transaction with more than 371.000 shares, more than 8% of the total emited shares. The price of shares has gone up by 39% from 1.7 RON/share in the first day of transactions to 2.4 RON/share at the last closed transaction session. Our first year as a public company has ended with the best financial performances in the history of Bittnet. Total revenue have grown with 35% compared to the previous year to 11.2 million RON, the company’s profitability is also on a positive trend, net profit growing with 386% to 1 million RON and EBITDA with 64%. Based on the business model of the company, the increase in revenue is followed by a much faster growth in profits. As such, the value of the PER indicator at 15th of April 2016 went down to 10 compared to 37 at 15th of April of previous year.

“The first year as a public company, listed on the AeRO market on the Bucharest Stock Exchange, coincides with the best year for us from both a financial and an operational point of view. Shares were transactioned over a number of 209 sessions in the 2015-2016 period and a total of 8% of shares have changed their owners in this period. We thank our shareholders that expressed their support and confirm their trust in the plans we expressed but also in the team that builds on a daily basis a strong romanian brand.” says Cristian Logofatu, CFO and co-founder of Bittnet.

“Companies present on the capital market have a unique opportunity, being listed, to offer trust, courage and loialty to clients, employees, business partners and investors. The biggest success within this effort belongs to managers and leaders with vision and professional competencies, that understand market demands and have the capacity to transform them into advantages to their business. I would like to congratulate the entire Bittnet team for these competencies, capabilities and responsability”, says Ludwik Sobolewski, CEO of the Bucharest Stock Exchange.

Bittnet, founded in 2007, was the first IT company to be listed on the Bucharest Stock Exchange. The company’s main activity is delivering IT training and end to end IT infrastructure solutions with technologies from market leaders like Cisco, Microsoft, Dell, VMware, HP, etc.

The presentation from the event can be found here.

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