Safetech Innovations (SAFE), a Romanian cybersecurity company that recently listed its shares on the Bucharest Stock Exchange’s AeRO market, reported a turnover of RON 14.7 million (EUR 3 mln) for 2020 up 43% compared to 2019.

The operating revenue reached RON 18.5 million (EUR 3.8 mln), as the company accessed RON 3.4 mln worth of non-reimbursable EU funds under the SafePIC project, which aims to increase the response capacity of Safetech’s Computer Emergency Response Team (STI-CERT) to cybersecurity attacks and incidents.

Safetech’s net profit went up by 148% last year, to RON 3.1 million (EUR 0.64 mln), and the profit margin reached 21%.

In line with the company’s dividend policy, the management proposes to the shareholders the capitalization of RON 2.5 million from the profit and the distribution of cash dividends worth RON 437.500.

Consequently, the shareholders will receive, for each share held, four new SAFE shares and a cash dividend of RON 0.14.

Safetech’s shares are currently trading at RON 31.6, and the company’s market capitalization is RON 99 mln (over EUR 20 mln).

For 2021, Safetech Innovations estimates turnover from the main activity of RON 20 million (EUR 4.1 mln) and a net profit of RON 4.5 million (EUR 0.92 mln).

(Photo: Pixabay)

andrei@romania-insider.com