Visual Fan predicts growing business and profit this year

Visual Fan, supplier of sustainable technologies and innovative solutions for the production of green energy, has budgeted for this year a turnover of almost 151.6 million lei, 13% above that of 2023, while the estimated profit is of 11.1 million lei, up 58%, according to the company's report published yesterday on the website of the Bucharest Stock Exchange (BVB).

"Our projects in the last year have exceeded the established targets and the outlook for the year 2024 is promising, especially regarding our Full EPC renewable energy project division, thus strengthening the Solar Energy division. We aim to develop this business and reach a portfolio of over 80 MW of contracted solar energy projects by the end of the year, contributing to the diversification of green energy sources in Romania and firmly committing to innovation and sustainability. At the same time, we are focused on expanding our portfolio of smart technologies and devices, and product launches in early 2024 mark the start of a series of innovations planned for this year," the report said.

The company launched the business line, Allview Auto, at the end of 2023, and for this year it aims to sell approximately 100 electric vehicles. "This significant increase in sales will translate into a substantial increase in turnover for Visual EV Distribution. We plan to launch at least two more electric models in 2024, including a mini SUV, to meet the varied needs of the market and strengthen our presence in electric mobility," the report said.

Depending on the share of the share capital held by Visual Fan in each company, the Visual Fan Group consists of: Visual Fan (Allview) - 100%; Intervision Trading (AKAI) - 70%; Headlight Solutions - 12%; Visual EV Distribution - 95%.

The company's shares were listed on the AeRO Market of the Bucharest Stock Exchange in July 2021. Founder Lucian Peticilă owns 82.8% of Visual Fan, an issuer whose stock market valuation amounts to almost 100 million lei.