Romania's iHunt to start delivering EV charging stations at end-Sep

Romanian online retailer and smartphone producer iHunt [BSE:HUNT] said on Monday that it has launched its own charging stations for electric vehicles on the market and will begin to deliver them at the end of this month.

The new line of business is part of the company's medium to long-term growth strategy, iHunt said in a statement filed with the Bucharest Stock Exchange, BVB.

The iHunt range of charging stations comes in several types of configurations - from 7 kW to 22kW that address the needs of both companies and individual customers who want to have a charging station at home.

iHunt Technology Import Export started its activity in 2015 as a direct importer of mobile phones and accessories from China, with two employees. The company is selling the products at its online store and over 200 physical stores.

iHunt's net profit jumped by an annual 41.9% to 2.67 million lei ($638,600/ 542,300 euro) in the first half of 2021, while turnover rose by an annual 40% to 20.6 million lei.

In February, iHunt listed a 7 million lei corporate bond issue on the Multilateral Trading System (MTS) of the BVB.

In July 2019, the company was listed on the AeRO market within the BVB’s MTS. Currently, iHunt has a 93 million lei market capitalisation.

Its shares traded 0.76% higher at 1.33 lei as at 1310 CET on Monday.

(1 euro=4.9488 lei)

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