certSIGN, a Romanian IT&C company and a significant producer and developer of cryptographic solutions in Romania, posts a consolidated turnover of 24.5 million lei in the first quarter of 2023, a 52% increase compared to the same period last year, an EBITDA of 6.1 million lei, +130%, and a net profit of 2.9 million lei, a 257% increase compared to the first three months of 2022.
“The financial results recorded at the level in the first quarter of 2023 confirm the trust of the business environment in Romania and abroad in the services and solutions we have been providing for over 15 years. During the first three months of this year, our activity in the field of cybersecurity recorded a significant increase, of 328%, up to 2.6 million lei, compared to the same period last year. This is largely due to our efforts to expand internationally and the increasing relevance of cybersecurity services in the context of accelerated digitalization. The performance from the first quarter of this year and the fact that digitalization projects at the level of companies and organizations will continue to progress rapidly represent a huge opportunity for the continued development of certSIGN. We are confident that the services and solutions we offer will bring added value to our clients, helping them to successfully adapt in the digital era, which is in continuous evolution”, stated Adrian Floarea, CEO of certSIGN.
In the consolidated turnover for the first quarter of 2023, eIDAS trust services, digital identity, and cybersecurity brought the most important contributions. The eIDAS Trust Services business line includes the activities for which certSIGN enjoys the most significant recognition in the Romanian market. In this unit, the certSIGN team provides services for implementing electronic signatures with legal value on a token or in the cloud in line with national and European legislation in force. On the other hand, through the Digital Identity business line, certSIGN has a strong presence globally, thus providing such services in 18 countries worldwide.
To continue developing and expanding the services and solutions provided, at the beginning of May this year, certSIGN concluded a strategic technology partnership with Versasec Credential Management Company, a market leader in Sweden, specialized in high-security identity and access management software solutions. As part of this partnership, the two companies offer clients an integrated solution that ensures completely secure multi-factor authentication (MFA), starting with the issuance of digital credentials (digital certificates for electronic signature, data encryption, and authentication to IT systems), the insertion of digital credentials into smart cards, the issuance of smart cards to end users, centralized and decentralized (self-service) management of credentials and smart cards throughout their lifecycle, up to the disposal of smart cards and corresponding credentials.
In 2022, certSIGN recorded a consolidated turnover of 76.5 million lei, a 14% increase compared to 2021, an EBITDA of 13.8 million lei, +17%, and a net profit of 6 million lei, an appreciation of 13% compared to 2021. The company constantly invests in research and development projects. Last year’s budget for this activity amounted to 8 million lei. Among the projects implemented in 2022 are certME, an electronic identification system, the PAPERLESS remote signature, and an upgrade to certSAFE, the modular application that provides the necessary elements to create a complete Public Key Infrastructure (PKI) solution, along with the security services associated with it, at the level of an organization.