Romanian smart device producer Allview prepares to list its shares on the Bucharest Stock Exchange (BVB) to finance the development plans. The company reported record sales in 2020.

Visual Fan SRL, the company that owns the Allview brand, recorded a turnover of over EUR 82,7 mln in 2020 and a net profit of EUR 4.88 mln. The company saw higher demand for electronic equipment and managed to capitalize on other commercial opportunities related to China amid the COVID-19 pandemic, according to a press release.

The production of electronic devices such as smartphones, TV sets, Smart Home systems, tablets, laptops, and other gadgets brought the company a net profit of EUR 1.4 mln, up four times compared to 2019. The company’s revenues from its core operations were 20% higher than in 2019, with smart TVs being the fastest-growing segment (+27% year-on-year).

At the same time, the company benefitted from new business opportunities generated by the pandemic, such as importing protection masks from China and providing IT equipment for online schooling.

“Despite the economic climate full of uncertainties, 2020 was a year with very good results for Allview. The increase in the turnover and profit from our core activity – the production of electronic devices - shows that we manage to sense the trends in this dynamic market and come with innovative products at a competitive quality-price ratio. I think we have proven that we are a mature company, which knows how to follow its development plans even in difficult market conditions, such as those generated by the COVID-19 pandemic, and maximize the opportunities that arise,” said Lucian Peticila, Allview founder and general manager.

In 2021-2022, Alview aims to become the leader of the Romanian market for Smart TVs with integrated Android TV and Google Assistant. It will also focus on the Touchless concept, which allows touchless interaction with electronic devices. The company will also invest in developing in-house product design and implementation and drawing local talent.

To finance its development plans, Allview prepares to list its shares on the Bucharest Stock Exchange. Local brokerage firm TradeVille is working on the listing.

iHunt (HUNT), a local smartphone producer that is already listed on the Bucharest Stock Exchange’s AeRO market, has seen a tenfold increase in its share price in the last 12 months, supported by a strong increase in revenues and profits.

editor@romania-insider.com

(Photo source: the company)