Electro-technical equipment producer Electroaparataj Bucuresti registered net profit worth 17.71 billion lei on the first five months of this year, against turnover standing at 122.38 billion lei.
"From a nominal point of view, the company posted a slight increase, profitability on the first five months being over 8 percent higher than profit of 16.43 billion lei recorded on the first half of last year. However, considering the inflation rate on this period, of about 43 percent, a considerable drop in real terms results," Adrian Nan, a financial analyst with EuroInvest Vision, told Ziarul Financiar.
"Nevertheless, Electroaparataj is one of the most stable companies listed on the bourse, a positive aspect being the fact that the company registered profit," Nan also said.
Gross profit registered by the company during this period amounted to 22.34 billion lei, a performance recorded amid revenues totaling 149.89 billion lei and total expenditures of 127.54 billion lei.
Within its five-month balance, Electroaparataj had included debts standing at 22.77 billion lei.
This year, the company will invest 45 billion lei in the acquisition of equipment, in research-development, the rehabilitation of some categories of old equipment, constructions-fitting, restructuring and promotion.
For this year, the company's management forecasts net profit worth 42.9 billion lei and total revenues of 364.5 billion lei, against turnover standing at 320 billion lei.
Electroaparataj has a share capital worth 131.427 billion lei, divided into shares with a face value standing at 1,000 lei. The company has 2,766 employees.
Last year, Electroaparataj registered net profit of 39.492 billion lei, amid turnover worth 268.4 billion lei.
During the same period, the company posted total revenues standing at 328.6 billion lei and expenditures totaling 271.8 billion lei. At the end of 1999, the company's debts amounted to 20.2 billion lei, while its receivables stood at 98.1 billion lei.
The main object of activity of Electroaparataj consists in researching, designing and producing plastic articles and household devices.
The highest weight within Electroaparataj sales is held by low-tension commutation electro-technical equipment, delivered to some companies within the industrial production domain. Electroaparataj is focusing on exports, which account for 20 percent of turnover.
The company was set up in 1949, following the merger of Electroaparataj Andre Prott (set up in 1947) and Industria Electrica Romaneasca (created in 1935). Subsequently, the company also included Electrocasnica plant, as well as Metaga enterprise.
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