AROBS appoints Ștefan-Alexandru Frangulea as Group Chief Financial Officer (CFO)

AROBS Transilvania Software (BVB: AROBS), the largest entrepreneurial technology company listed on the Bucharest Stock Exchange, announces the appointment of Ștefan-Alexandru Frangulea as Group Chief Financial Officer (CFO), effective April 1, 2026. Ștefan-Alexandru Frangulea succeeds Bogdan Ciungradi, whose mandate in this role ended on March 31, 2026, following his decision to pursue a different professional path.

“The appointment of Ștefan-Alexandru Frangulea comes at a time when AROBS continues to advance its growth strategy, both through organic expansion and the integration of Group companies, as well as through expansion into international markets, in a context where the Group’s operations are becoming increasingly complex. We are confident that Ștefan-Alexandru’s extensive experience in the financial and banking sector, as well as his involvement in complex transactions, M&A processes, and organizational transformation projects, will support our growth objectives and help maintain strong financial discipline across the Group. At the same time, we thank Bogdan for his contribution to the Group’s development and wish him every success in his future endeavors,” stated Voicu Oprean, Chairman of the Board of Directors and CEO of AROBS.

Ștefan-Alexandru Frangulea brings over 20 years of experience in the financial, banking, and energy sectors and has held senior management positions within Electrica Group, where he served as Chief Financial Officer, as well as within leading financial institutions such as the European Bank for Reconstruction and Development (EBRD), BCR, and UniCredit. Throughout his career, he has been involved in structuring and implementing complex financing transactions, investment projects, listing processes, and mergers and acquisitions, while also gaining experience in cost optimization programs and organizational transformation initiatives.

“I am joining AROBS at a time of accelerated development, where the Group’s operational complexity and growth ambitions require a strong financial function, focused both on discipline and on supporting strategic decision-making. I strongly believe that the role of the finance team goes beyond control; it is an active business partner that contributes to the efficient integration of Group companies, optimal capital allocation, and greater clarity in execution. Together with the teams across the Group, I aim to further develop a sustainable growth model, based on strong governance, cross-functional collaboration, and consistent performance, strengthening AROBS’ position as a relevant international player with strong Romanian roots,” stated Ștefan-Alexandru Frangulea, CFO of AROBS.

In his new role, Ștefan-Alexandru Frangulea will be responsible for coordinating the Group’s financial strategy, including financial planning and analysis, liquidity and capital structure management, as well as supporting M&A processes and the integration of Group companies. He will also contribute to strengthening financial control mechanisms and optimizing operations.

In 2026, AROBS Group targets consolidated revenues of RON 552 million, up 23% compared to 2025, and an EBITDA of RON 82 million, 19% higher than the previous year, corresponding to a margin of 15%. Net profit is estimated at RON 35 million, reflecting the objective of delivering profitable growth while maintaining financial discipline and efficient resource allocation.

AROBS Transilvania Software delivers software services and solutions across multiple industries, with approximately 70 partners within the Software Services division operating across Europe and North America. More than 11,000 clients in Europe and Asia use the company’s software products. AROBS has a presence in 11 locations in Romania and nine internationally, while over 1,200 specialists are building the solutions of the future in embedded – Automotive, Aerospace, Maritime and Medical – as well as Travel Technology, IoT, Clinical Trials, Fintech, Enterprise Solutions, Cybersecurity and Intelligent Automation.

Whilst in 2016 AROBS was primarily known for its expertise in navigation systems and outsourcing, the year 2026 finds the company in a far more diversified position of strength. Through its listing on the Main Market of the Bucharest Stock Exchange (BVB) and a series of more than 10 strategic acquisitions of companies across Romania and Western Europe, AROBS has successfully secured a solid presence in over 11 countries.

The Pillars of Evolution: From the AeRO Market to the BET Index

The turning point of the last decade was undoubtedly the stock market listing. This provided the company with the financial “fuel” required for a “buy and build” strategy, integrating varied expertise under the group’s umbrella—ranging from HR solutions to complex systems for the aerospace industry.

Diversified Expertise: Beyond Outsourcing

AROBS has distinguished itself through an unusual capacity to launch and sustain its own software products, rather than merely providing programming services for third parties. The Fleet Management division (TrackGPS) and human resource management solutions (True HR) have become regional market leaders.

Regarding the vision that has guided this path, Voicu Oprean, founder and CEO of AROBS Transilvania Software, stated to Ziarul Financiar (zf.ro) at the time of the transition to the BVB Main Market: “The listing on the Main Market was a natural step in our evolution. We have assumed the role of a consolidator in the regional IT market and continue to seek acquisition opportunities that complement our expertise, particularly in the automotive, embedded, and business solutions sectors. Our objective is to demonstrate that a company started in Cluj can be a relevant global player.”

Acquisitions: The Fuel for Accelerated Growth

The success of the last 10 years is explained by the way AROBS has integrated companies with long-standing traditions or innovative technologies, preserving their organisational culture whilst providing them with scalability.

Labour Market Challenges and Talent Retention

In an industry where competition for programmers is fierce, AROBS has implemented Stock Option Plans (SOP), transforming its employees into partners and shareholders. This approach has ensured the stability of the management team and senior specialists—a critical element in delivering complex, long-term projects.

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