According to information available on the Bucharest Stock Exchange (BVB) website, the negative result was due to a decline in the metal and iron smelting market in last year’s final quarter. BVB data indicates that TMK-Artrom Slatina posted net sales worth some RON 300 million (€81 mln) at the end of the first six months of 2008, and a net profit of RON 9.8 mln (€2.7 mln), five times less than the net result registered in the first half of 2007.
Company revenues rose 17.7 percent, to RON 753.6 mln, while expenses increased more rapidly, by 32 percent, to RON 818 mln.
According to the company’s draft budget for 2008-2012 submitted to BVB, the enterprise estimated a net profit of RON 53.01 million in 2009 and of RON 63.3 mln in 2010. The producer’s revenues were estimated to rise to RON 777.9 million in 2009, 17 percent more than the RON 665 mln estimated for 2008. Company revenues are expected to exceed RON 1 billion annually in 2010-2012. Over three quarters of the company’s 2009 production is to be exported as of next year, as the share of foreign orders is to increase to almost 80 percent.
