“The results from the first nine months of 2024 confirm the solid direction we are on and makes us confident that the measures adopted this year for our operational activity, both locally and internationally, are directly contributing to our growth. The revenue increase and client portfolio expansion reflect the efforts of our team and our ability to deliver effective solutions in a constantly evolving industry. We will continue to focus on capitalizing on the existing opportunities and expanding our expertise by attracting clients and strategic projects across various industrial sectors. In this regard, we remain committed to the approach we have maintained since the inception of Safetech Innovations, constantly motivated to diversify the range of solutions we offer and ensure that our technologies address the increasingly complex needs of cybersecurity,” stated Victor Gansac, Chairman of the Board and CEO of Safetech Innovations.
In the first nine months of 2024, at the individual level, cybersecurity services contributed 32% to the total turnover, while cybersecurity solutions implementation contributed 68%. In Q3 2024, the company added nine new clients in the Romanian market to its portfolio.
On a consolidated basis, which includes the performance of the UK entity, Safetech UK, the company registered revenues of RON 44 million, a 40% increase compared to the first nine months of 2023, and a turnover of RON 30.7 million, up by 53% compared to the same period last year. Net profit reached RON 7 million, a 382% increase compared to the first nine months of 2023.
In September 2024, Safetech Innovations initiated the procedures for a share capital increase through the distribution of bonus shares. This increase uses share premiums from previous capital increases, as well as retained earnings from 2020–2023. By the end of October 2024, the capital increase was registered with the Trade Registry. Consequently, shareholders holding SAFE shares as of December 4, 2024, will receive bonus shares on December 5, 2024, at a ratio of 1.39 shares for each share held.
Safetech Innovations is listed on the Main Market of the Bucharest Stock Exchange as of February 6, 2023, and is traded under the symbol SAFE.
