Romexpo last year registered gross income standing at 6.25 million euros (22.6 million RON), 3.4% higher in euros, but lower in RON due to the appreciation of the domestic currency and tariffs being kept in euros.
According to figures in RON, profit in 2005 was 1.8 million RON smaller than the level seen in 2004, when it amounted to 24.4 million RON. Last year''s increase is noticeable only when taking into consideration the growth of the domestic currency against the euro.
Revenues reported by the company organising exhibitions and fairs reached 16.9 million euros, up 15% in euros. "Revenues got higher even as the company maintained its euro tariffs at the level of the previous year and the domestic currency advanced 11% against the euro," mentioned Mihai Costris, the financial manager of the company.
Forty percent of Romexpo''s profits will be used as financing sources, while 54% will be earmarked for dividends and 6% will go to the profit sharing fund.
Romania''s Chamber of Commerce and Industry (CCIR) and Bucharest''s Chamber of Commerce and Industry Chamber (CCIMB) each own 35% in Romexpo. The remaining 30% stake is divided among 1,018 individual shareholders and former employees of the company, CCIMB and CCIR. The most significant natural person shareholder owns 1,960 shares, accounting for 0.3% of the capital.
Romexpo plans to invest 50 million euros over the following years to expand its exhibiting capacity. At the same time, Romexpo intends to build a three-star hotel.
"The hotel, to be built using both our own resources and banking loans, will add to the range of services provided to exhibitors. We already have bought the land and investment priorities also target doubling the exhibition area, which over the next seven years will expand to 110,000 square metres. Through these programmes, we want our company to grow to such an extent as to be among the top ones in the European fairs and exhibitions industry," stated Romexpo manager, George Cojocaru.
Romexpo has 42 pavilions and 9 conference halls available and annually organises more than 40 fairs and exhibitions. The total area the company exhibits on stands at 421,867 square metres.
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