Simtel Team (BVB: SMTL), a leading Romanian engineering and technology company specializing in renewable energy, has announced the signing of a significant contract worth RON 66.5 million (EUR 13.4 mln) excluding VAT with a company in the metallurgical industry.\u00a0<\/p>\n
Under this agreement, Simtel Team will be responsible for the design, engineering, procurement, construction, and commissioning of a photovoltaic power plant located in Calarasi County, in southern Romania.<\/p>\n
The project is slated for completion within five months from the signing date, Ziarul Financiar<\/a> reported.\u00a0<\/p>\n Simtel Team reported a net profit of RON 4.96 mln in the first quarter of 2024, marking a 199% increase compared to the same period in 2023, despite a 31% decrease in revenues to RON 45 mln.\u00a0<\/p>\n The company boasts a market capitalization of RON 412 mln and is primarily owned by Romanian investors Iulian Nedea (23.44%), Sergiu Bazarciuc (23.22%), and Radu Vil\u0103u (23.2%).\u00a0<\/p>\n Simtel Team\u2019s shares have surged by 21.7% since the beginning of the year.<\/p>\n