Meet the Company. Meet the CEO

Are you wondering how Mihai and Cristian Logofatu, Bittnet founders, will develop the value of the company in the next years?

Taking advantage of our aniversary, one year since Bittnet was listed on the AeRO market of the Bucharest Stock Exchange, together with the Investors Club project “Meet the Company. Meet the CEO”, Friday, 22nd of April, we invite you to our “home” to see where and how we function and better understand this business over some coffee with Mihai and Cristian Logofatu starting with 15:00.

Bittnet is a romanian entreprenourial company, fonded in 2007, which became the largest local company of business to business IT services which offers certified trainings for Cisco, Microsoft, Amazon Web Services, ITIL® etc. and the first company to be listed on the alternative transaction market AeRO

The company was included in the Technology Fast 500 top of the most dynamics companies in the EMEA region. This competition is hosted by Deloitte and has IT&C players from over 20 countries.

From the begining of our activity, the company has focused on delivering IT training as well as on our IT integrator activity, based on technolgogies from Cisco, Microsoft, Dell, Oracle, HP, VMware, Google, Amazon Web Services, ITIL®, Citrix etc. The integration part of the business means that we offer our clients both services and solutions that they need starting with an analysis, design, implementation and testing which result in turn-key projects for companies with various needs when it comes to IT. Currently Bittnet is the only Romanian company which financialy guarantees the success of the client’s project.

At the same time, Bittnet is the IT training market leader in Romania, with a continously growing team, over 15 years of experience and more than 13.000 trained students. Along the years, Bittnet has delivered more than 30.000 hours of IT training and currently has the largest training team in Romania.

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.

“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 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.

We invite you to get to know eachother better!

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