Romanian smart device producer Allview is preparing to list its shares on the Bucharest Stock Exchange (BVB) to finance its development plans.
It would be the second smart devices producer listed on the BVB after its smaller peer iHunt, specialised in smartphones, which has reached €20mn market capitalisation.
Allview reported record sales in 2020 of €82.7mn, nine times more than the €9mn revenues (+71% y/y) announced by iHunt.
Visual Fan, the company that owns the Allview brand, recorded a net profit of €4.88mn in 2020. The company saw higher demand for electronic equipment and managed to capitalise on other commercial opportunities related to China amid the COVID-19 pandemic, according to a press release.
The production of electronic devices such as smartphones, TV sets, smart home systems, tablets, laptops and other gadgets brought the company a net profit of €1.4mn, up four times compared to 2019.
The company’s revenues from its core operations were 20% higher than in 2019, with smart TVs being the fastest-growing segment (+27% y/y).