The constructions firm saw turnover exceed estimates by 13% in 2005, up to 34 million euros.
"Last year''s financial results were made possible by the investments we made during the year, as well as by the larger contracts we signed," said Florian Florescu, Arcom SA economic manager. The value is close to the level registered in 2004, while the profit rate revolves around 9%, in line with the preliminary data released by Arcom. The company last year invested around 3 million euros to acquire some new concrete stations, cranes and scaffolding.
Before the 1989 Revolution, Arcom used to be the foreign "arm" of the Romanian constructions industry, but later on faced declining orders from abroad and the loss of some traditional export markets in the Middle East and North Africa.
Consequently, Arcom gradually turned towards the domestic market and struck partnerships or alliances with foreign firms. The most important projects Arcom developed last year include the 50m-euro residential project named Central Park, handled by the Niro group, and the 8m-euro LaborMed pharmaceuticals plant in Bucharest. As part of its strategy to forge alliances with foreign companies, Arcom set up several joint ventures with the French company Lafarge (plasterboard production), Gealan (PVC carpentry), Zublin - constructions (a partnership Arcom officials will annul this year) and Omnico (to enter the pavement market).
Arcom is part of the Arcom Group, which operates on the constructions and construction materials market. The group includes another 10 companies, in which Arcom SA owns the majority stake. These companies operate in various fields such as constructions, construction materials, equipment production and trading, automation and equipment rental.
The Arcom group last year derived turnover worth 60 million euros. Lafarge Arcom Gips, specialised in plasterboard production, will this year double the capacity of its production lines, while total production will triple, as it will switch to the three work-shift system.
Arcom stock is over 85% held by 1,400 natural persons, none of whom owns more than 1%. Other shareholders are SIF Muntenia with 8%, Conimpuls Bacau with 2-3% and Gimart Calarasi, in line with the latest available information.
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