Bercman Technologies 1st quarter of 2024 consolidated sales revenue


The consolidated revenue of AS Bercman Technologies for the first quarter of 2024 was 346 564 euros. Consolidated revenue for the first quarter of 2023 was EUR 486 627.  

Mart Suurkask, CEO of Bercman: “The Group’s first quarter results were broadly in line with the sector’s momentum. The recession, which has lasted for several quarters, has not allowed for volume growth in work for existing clients, and the major developments we plan to start in the coming months remained in the preparatory phase during the first months of the year. At the same time, however, our development services client portfolio is the largest in history, and we have won tenders with a record volume in the export markets for smart crosswalks. The year has started on a positive note in terms of prospects, and we will be sure to keep you informed of ongoing developments through our stock exchange releases. 

In the first quarter, development services were exported to Singapore, Sweden, Finland, the United States, and Ireland, in addition to serving Estonian clients. Ireland represents a new market where services related to product development were sold to a new client in the medical industry. Alongside ongoing projects, the beginning of the year was primarily characterised by consulting on pre-projects, and sales work, together with the preparation of extensive product development proposals. Regarding services, there was a narrower focus on offering Regulatory as a Service for assessing and managing the regulatory compliance of electronic products. 

In the first quarter, the focus for our own products was on the maintenance and software update work for previously installed smart crosswalk devices. Proposals for installing smart safety systems were sent to Latvia and Greece. The smart city sector tenders won in international markets last year are expected to materialise in the upcoming quarters.  

To promote sales activities and expand new business opportunities, participation was made in network events such as sTARTUp Day in Tartu, the Estonian-Finnish electronics companies roundtable, and the DefenceTech seminar organized by the Estonian Founders Society in Tallinn. In Sweden, a high-level defence visit was made along with the Estonian Minister of Defence and a delegation of defence sector companies. 

The comprehensive smart road solution, consisting of smart crosswalks and an urban average speed measurement system, was presented at the ITS Estonia roundtable, the Estonian Infrastructure Construction Union seminar on ‘Innovation in Road Construction’, and a seminar mapping the needs for green innovation at Tartu Science Park. A meeting with representatives from the Japanese company Toyota Connected took place, where possibilities for collaboration on development services were discussed. 

To support the succession of engineers, the development team participated in the open house event at Tallinn University of Technology, presenting software, electronics, and mechanical engineering work and activities to future engineers. The topic of engineering succession was also a focus at the Estonian Electronics Industries Association’s council meeting in March. 

Bercman, founded in 2016, is a technology company listed on Nasdaq First North, specialising in development services, creation of proprietary products, and provision of comprehensive technology systems. The Bercman consolidation group, comprises the parent company AS Bercman Technologies and its subsidiary, Krakul OÜ. 

Further information: 

Mart Suurkask
AS Bercman Technologies
Member of the Board
+372 5340 2902

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    Bercman Technologies AS
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