CE Craiova’s financial indicators in Q1

The company expects a net profit of some RON 8 mln (€1.8 mln) in Q1 2009, 43.7 percent less than the RON 14.208 mln (€3.85 mln) posted in the first three months of 2008.

“Net sales increased due to higher prices for certain market segments, while the profit dropped because production and deliveries declined, and fixed and variable expenses increased,” company officials said.

“The figures of indicators for the first quarter of 2009 are in compliance with the company’s market and development strategy considering the general context of the economy. The main factors which influenced the firm’s activity in Q1 were the financial crisis and the general drop in electricity consumption,” company officials added.