Bercman Technologies 4th quarter and 12 months of 2023 unaudited consolidated sales revenue


The consolidated revenue of Bercman Technologies AS (hereinafter “Bercman) for the fourth quarter of 2023 was 396 836 euros (Q4 2022: EUR 469 549). Consolidated revenue for the 12 months of 2023 was EUR 1.67 million (EUR 1.73 million in 2022).

Mart Suurkask, CEO of Bercman: “In the area of our proprietary products, the fourth quarter was characterized by the completion of various projects. In Põlva, we completed a unique smart road that is the first of its kind in the world, and in Kohtla-Järve, we piloted a hybrid energy solution for smart pedestrian crosswalks. We are almost ready of starting the export of these solutions. In terms of development services, we focused on diversifying our client portfolio in the fourth quarter. As a result of our consistent sales efforts, we believe we have established a strong customer base for the year 2024.” 

In addition to serving Estonian customers, development services were exported to the markets of Germany, Sweden, the United Kingdom, Singapore and the United States in the fourth quarter. In cooperation with Aerones, a Latvian developer of wind turbine maintenance robots, funding (EUR 80 000) was obtained for the development of a wind turbine lightning protection system maintenance robot under the European Union’s Silicon Eurocluster initiative. In the provision of development services, the narrower focus was on the defence sector, in connection with which we participated in the Estonian Defence and Space Industry Information Day in Paldiski. Two new clients from the defence sector were added to our client portfolio in the last quarter. Our development team was visited by a delegation from the Gyeongnam Technopark in Korea, to map out and promote collaboration opportunities with high-tech companies in South Korea. 

On the proprietary side, the smart crosswalk devices were exported to Greece. Bercman participated in smart traffic infrastructure tenders in Greece and Croatia, with a focus in Croatia primarily on the sale of hybrid energy-powered crosswalks, which are expected to be ready in the second quarter of 2024. In addition to existing markets, communication has been initiated with the Barcelona city government for the installation of the first smart crosswalks in the city of Barcelona, which has a population of 1.62 million. 

In Estonia, the Smart Road, a special solution developed as part of an innovation project conducted by Põlva municipality, was completed in the fourth quarter. The smart road consists of 14 Bercman Smart Pedestrian Crosswalks with statistics collection capabilities and an average speed measurement solution (see Bercman’s announcement 04.01.2024).  In addition, an innovation project between Tehnopol and the city of Kohtla-Järve has been completed, piloting Bercman’s innovative smart crosswalk solution with hybrid power supply and anonymised data collection capabilities. The City of Kohtla-Järve decided to continue using the piloted solution for smart crosswalks. In order to promote sales and map new business opportunities, in the fourth quarter Bercman team participated in Estonian joint stand at the world’s largest technology fair Gitex Global in Dubai and the largest smart city fair Smart City Expo in Barcelona. In addition, we participated in the East Sweden Innovation Week held in Norrköping and the IPC EMS Day networking events in Tallinn. 

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 Bercman Technologies AS and its subsidiary, Krakul OÜ. 

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

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    Bercman Technologies AS
    Reg. no. 14134425
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    Riia 26, Tartu, 50405, Estonia

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