IT Genetics, a Romanian group specialized in providing hardware and software solutions for optimizing and digitizing operational processes, with an international presence in Hungary, Bulgaria, Spain, and Italy, recorded consolidated revenues of €14.12 million in 2023, up 20% compared to 2022. The consolidated EBITDA reached €680,000, representing a 209% increase, while consolidated net profit rose to €480,000, up 300% year-over-year.
IT Genetics’ activity is structured around three key pillars: AutoID (AIDC – automatic identification and data capture), POS (point of sale), and IA (industrial automation), providing advanced solutions that optimize supply chains, enhance customer experiences at points of sale, and transform production processes. The technologies used-such as barcode scanners, RFID, and control systems-enable precise product tracking, efficient inventory and resource management, and cost reduction. Furthermore, the group’s solutions for traceability, asset management, and inventory play a significant role in improving business operations, supporting companies in their digital and automation journeys to increase competitiveness in their respective industries.
“The financial performance achieved in 2023 reflects our team’s commitment and effort to deliver high-quality solutions that meet market demands. The growth in revenue, EBITDA, and net profit highlights the success of our innovation-driven and international expansion strategy. We will continue focusing on developing advanced technologies and enhancing our customer experience by offering customized solutions that optimize operations and improve efficiency. We are committed to supporting the digitalization of businesses across various industries and remaining a trusted partner in their digital transformation,”
— Liviu Sima & Ștefan Axinte, Co-Founders, IT Genetics
Regarding revenue distribution across the countries where the group operates, Romania accounted for 91%, followed by Hungary (4%), Bulgaria (3%), and Spain (2%). The Italian entity was not included in the consolidated results, as the group entered this market at the end of 2023.
In Romania, IT Genetics served over 11,500 clients in 2023 across industries such as manufacturing, retail, IT, services, utilities and energy, automotive, and public institutions. Of the total revenues generated in Romania, hardware sales accounted for 56%, solutions – 33%, and services – 11%. Throughout 2023, demand for efficiency-enhancing solutions through digitalization and automation remained consistently high.
“The results achieved in 2023 confirm our strategy to invest in innovation and to respond quickly and effectively to customer needs. It was also a key year in which we strengthened our market position and expanded sustainably. For 2024, we aim to continue growing, consolidate our international presence, and diversify our product and service portfolio to meet the evolving needs of our customers. Our long-term goal is to become a European leader in digital transformation,”
— Adriana Arhire, CEO IT Genetics.
Regarding the international entities, IT Genetics Hungary, present in the country through the eCommerce platform ITGstore.hu, ended 2023 with revenues of €540,000 and significant business growth, driven by the delivery of IT solutions and equipment tailored to the specific needs of customers in this country. In 2023, IT Genetics Hungary saw a notable increase in demand for warehouse automation and inventory management solutions amid the rapid development of e-commerce and logistics. Furthermore, retailers operating in Hungary are investing in modern technologies to improve customer experience and maintain competitiveness. This has led to a growing demand for advanced POS solutions, self-service payment systems, and customer loyalty solutions. At the same time, Hungary is a market where the government supports the digitalization of companies through the implementation of various programs and incentives across multiple economic sectors.
Given the market context in Hungary for AIDC and POS solutions, IT Genetics aims to capitalize on significant growth opportunities in 2024 by offering quality solutions tailored to the specific needs of local customers, as well as by adapting its sales strategy to consumer purchasing preferences.
IT Genetics Bulgaria, present in the country through the eCommerce platform ITGStore.bg, recorded revenues of €520,000 in 2023. In Bulgaria, IT Genetics has observed an increasing demand for labeling and traceability solutions, especially in the food industry, which is characterized by strict regulations, inventory management, and supply chain optimization. Additionally, government investments in digital infrastructure and business support programs are encouraging companies to adopt modern technologies to improve their efficiency and competitiveness.
Therefore, in 2024, IT Genetics Bulgaria aims to continue expanding its operations, leveraging the high development potential in a market where local buyers—particularly in the retail, logistics, and manufacturing sectors-are increasingly interested in modern technologies that meet high standards yet remain affordable.
Regarding IT Genetics Spain, present in the country through the eCommerce platform ITGStore.es, it generated revenues of €340,000 in 2023. The Spanish market is influenced by the rapid growth of e-commerce, driving increased demand for inventory management and traceability solutions. Spanish retailers are heavily investing in digital technologies to optimize operations and improve customer experience, while the HoReCa sector is seeking advanced solutions to manage bookings and offer personalized services. Additionally, strict food safety regulations are increasing demand for AIDC solutions to ensure compliance.
In 2024, IT Genetics Spain plans to strengthen its presence in the country, taking into account the growing demand for data collection and POS solutions in the retail and HoReCa sectors. Furthermore, more companies are interested in solutions that help improve customer experience, increase operational efficiency, and gain valuable insights into sales and customer preferences. Considering the opportunities in this market, IT Genetics Spain aims to reach a turnover of 2 million euros within the next two years.
About IT Genetics
Founded in 2007, IT Genetics delivers professional IT solutions to businesses in Romania, Hungary, Bulgaria, Spain, and Italy. The company’s mission is to digitize businesses by offering accessible technology, integrated hardware and software solutions, consulting, and technical support to optimize operations.
With over 17 years of experience, IT Genetics has carried out digital transformation projects across diverse industries including retail, HoReCa, transport, logistics, manufacturing, pharmaceuticals & healthcare, education, and banking. Solutions are tailored to meet the specific needs of each client. Strategic partnerships with globally renowned manufacturers such as Zebra, Brother, Honeywell, Datalogic, Metter, Elo, Star Micronics, SATO, and others, enable IT Genetics to deliver cutting-edge technology to its customers.
