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Romania’s AROBS net profit up 14% y/y in Q1

Author Tudor Popescu
Romania’s AROBS net profit up 14% y/y in Q1 AROBS CEO and founder Voicu Oprean Source: AROBS

BUCHAREST (Romania), May 27 (SeeNews) - Romanian IT company AROBS Transilvania Software said on Friday it booked 14.9 million lei ($3.23 million/3 million euro) in net profit in the first quarter of 2022, a 14% increase on the year.

The company also recorded a total turnover of 52.6 million lei for the three-month period, a 33% year-on-year increase, AROBS said in an unaudited financial report filed to the Bucharest Stock Exchange.

AROBS first-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) totalled 17.4 million lei, a 22% annual increase.

Earlier this month, the company said it was expecting 47.3 million lei net profit for 2022 and an EDITDA of 54.9 million lei on a total turnover of 197.3 million lei.

AROBS Transilvania said in April it is acquiring Enea Services Romania, a Swedish-owned software company, for 17.9 million euro ($19.2 million).

In October, the company raised 74.2 million lei through a private placement on the Bucharest Stock Exchange.

Founded in 1998, AROBS Transilvania Software is an IT company focused on developing custom software for a range of industries, such as automotive, IoT, travel & hospitality, life sciences, or FinTech. According to a preliminary financial report available on the company website, AROBS recorded a net profit of 43.6 million lei in 2021, a 8% increase on the year. Its turnover totalled at 169.3 million lei in 2021, a 10% year-on-year increase.

AROBS shares traded 1.83% up at 1.004 lei/share at 13:04 CET on Friday.

(1 euro = 4.9423 Romanian lei)

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