Bento posts a turnover of 11.8 million lei and a net profit of 2.5 million lei in the first half of 2022
2B Intelligent Soft (Bento, Intellectually Curious, BVB: BENTO), a Romanian entrepreneurial company specializing in the development and implementation of software solutions and the provision of IT and cloud infrastructure services, has a turnover of 11.8 million lei in the first half of 2022, similar to that recorded for the same period last year and a net profit of 2.5 million lei, an increase of 27%.
“The first half of 2022 has been an extremely dynamic time for our team, during which we faced some interesting challenges both operationally and in terms of business development plans. We are proud of the results obtained, in particular the substantial appreciation of the rate of return compared to the same period last year and the prospects we have for the future. Bento is going through a period of accelerated growth, partly fueled by winning a major project with European funding, which at the same time leads us to consolidate the non-operational areas of the team, such as human resources and marketing. Also, obtaining and starting the project with European funding almost perfectly complements the development strategy around our software products, which we have accelerated within the framework of funding obtained on the capital market. This project gives us the incentive to use the capital raised in the private placement more diligently, for the benefit of all shareholders of the company in the short and long term”, said Radu Scarlat, chairman of Bento’s board.
Regarding the breakdown of turnover by business, the “Software Development” (DEV) division contributed 44% of the turnover linked to the first half of 2022. DEV includes the development and implementation of software – these activities with a contribution of 65% within this business line and services linked to maintenance and evolution – activities in this category representing 35% of turnover. The second line of business, IT, Infrastructure and Cloud (IT), includes services and implementation, resale of equipment and software. This business contributed 56% of the turnover achieved in the first half of 2022.
Of the total revenue generated in the first half of 2022, approximately 38% was recurring revenue, similar to that of the first half of 2021. The company sees a steady increase in the absolute value of recurring revenue, namely revenue associated with support services and updates for existing customer applications. Recurring revenues have a substantial share in the results of the two divisions, representing the stability factor of Bento’s activity and being an indicator of the maturity of the services delivered.
The company’s most significant event in 2022 is the signing of the contract for the financing project won under the Competitiveness Operational Program (POC 2014-2020). Under the name “Modular Digital Transformation Platform in Corporate Environment and Public Sector”, the project has a value of around 25 million lei, of which around 15 million are non-refundable funds.
With the start of targeted activities within this project, two complementary axes of Bento’s strategy are consolidated around its software products under the same action plan. The functional development of its products, Bento Field Service Management (FSM) and Bento Mobile Device Management (MDM), an objective assumed vis-à-vis the company’s investors and shareholders and supported by financing obtained from private capital, now integrates with a suite of developments in the software platform and infrastructure, the objective of which is to modularize Bento applications within the same family of products.
At the end of this project, Bento will have in its portfolio, in addition to software applications, its intellectual property, superiorly developed and present in the market, also a common software platform which will include many other Bento applications and will work from integrated way. , being presented as a family of products. As a whole, the platform developed with the support of European funds is intended to automate and optimize processes within organizations where one or more of its modules will be implemented.
“This year, we are continuing to execute the other aspects of our development strategy, assumed from the IPO, with more notable advances in sales, but also in the direction of strategic partnerships. We thus completed a process that lasted more than four months, at the end of which the Commercial and Sales departments were redesigned, the foundations were laid for new processes for managing opportunities and partners, and new colleagues were been selected to join Bento and work in these directions. Marketing efforts also reached a new level, supporting the growth of product promotion activity, the need for sales support and the integration of new activities related to shareholder relations,” said Vlad Bodea, co-founder of Bento.
Considering the evolution of the first half of 2022 and the outlook for the second part of the year, the management of the company maintains the income and expenditure budget, as approved by the shareholders during the ordinary general meeting. of April 2022 shareholders – total revenue of 28.4 million lei and net profit of 5 million lei. However, it is possible that the budget will be updated by the end of the year, as the company is currently analyzing the operational and financial impact determined by the European funding project.
Bento has been listed on the AeRO market of the Bucharest Stock Exchange since March 16, 2022, being one of the few technology companies in Romania developing its software products. The products and solutions provided by Bento are used by local and international companies operating in various fields such as energy, consumer products, utilities, telecommunications, health, agriculture, information technology, media, the food industry, distribution, transport and services.