Bercman Technologies AS first quarter turnover was 294 360 euros
The consolidated revenue of Bercman Technologies AS for the first quarter of 2022 was 294 360 euros. Compared to the first quarter of 2021, turnover increased by 9449% (3115 euros). A significant part of the increase in turnover is due to the fact that the results of Bercman Group's subsidiary Krakul OÜ are reflected in this year's consolidated results of the Bercman Group.
Mart Suurkask, CEO of Bercman Technologies AS: "One important result for the company in the first quarter was the winning of Põlva Smart Road procurement. The procurement volume was 176 000 euros and the smart road on which the procurement is based on will be completed by the end of 2022. Procurement work is carried out in stages and the impact on turnover will be felt in the following quarters. In addition to Põlva, Bercman won the procurement of the city of Narva-Jõesuu for the installation of four smart pedestrian crosswalks in May this year. The impact of this procurement on the turnover results will also be felt in the next quarter."
In the first quarter, smart pedestrian crosswalks were installed on the Tehnopol and Ülemiste campus in Tallinn and on the Tallinn highway in Haapsalu. The smart pedestrian crosswalk equipment was sent to Lithuania and Switzerland for installation and for the start of the first pilot project, and an additional pedestrian crosswalk reached Greece, where the first pedestrian crosswalk was installed in 2021. Based on the agreements made in the first quarter, smart pedestrian crosswalks will be installed in Saue (2 pcs), Kuressaare (3 pcs) and Narva-Jõesuu (4 pcs) in the second quarter of this year. Solution with an upgraded functionality will be handed over to the customer in Viimsi during the spring, where in addition to the smart pedestrian crosswalks with normal functionality, a traffic light together with the smart pedestrian crosswalk will start operating.
Bercman's mission is to contribute to a faster introduction of self-driving vehicles in addition to increasing road safety. In order to move in this direction, a cooperation project was signed in February to test a self-driving vehicle demand-based transport service coordinated by the University of Tartu.
At the international level, Bercman's Head of Growth and BD participated in industry fairs in Dubai and in a meeting of the members of the intelligent and autonomous transport systems organisation (CCAM) in Brussels to discuss developments in the field and further activities at the level of the European Union. Negotiations have also started with several car manufacturers to find partners to test the development projects of self-driving and connected vehicles.
Suurkask added: "Three key positions were added to the Bercman team in the first quarter: Head of Growth and BD, Head of Marketing and Communication and Chief Financial Officer."
Krakul, an IoT and autonomous systems design company and part of the Bercman Group, continued to work with long-term clients and projects. Among other things, Valnes, a locking and security products company expanded into new markets with smart lock systems developed by Krakul; Beautiful Me rollmassage franchise was sold to Australia, and Ampler, an e-bike developer, introduced a new e-bike models with electronics developed by Krakul and opened showrooms in the Netherlands and Switzerland. Krakul exported IoT and autonomous system solutions to Finland, Latvia, Singapore, Switzerland, Germany, and the United States in the first quarter. In addition, the company held negotiations with potential new customers and partners from Estonia as well as international markets.
In the first quarter, Krakul hired a development manager responsible for developing and implementing the company's product development processes.
Jaan Hendrik Murumets, CEO of Krakul and CTO and member of the management board of Bercman: "In the first quarter, in addition to developing existing customer projects, we made preparations for expansion and finding new customers in international markets. We see future growth in export markets. We also see that the export volumes of our Estonian customers are growing – interest in smart solutions is booming."