“The value of the turnover increased by 197% compared to H1/21, especially as a result of the increase in production by 160% compared to the same period of the previous year, supported by the high sales volumes of bottled oil at the expense of the sales of crude oil. The sales of sunflower meal and fatty acids increased by over 150% compared to H1/2021”, the company said in its financial half-year report.
“Operating expenses in the amount of RON151 million were significantly higher, by 228% higher compared to the value of RON46 million in H1/21 due to the increase in production but also higher costs for raw materials, energy and salary costs. The operating result in the amount of RON32 million in H1/22 was significantly higher compared to the value of RON1 million in H1/21, due to the better performance of the production activity and the sales mix. The financial result was a loss of RON1.5 million in H1/22 compared to RON1.3 million in H1/21 mainly as a result of higher expenses with bank interest. On June 30, 2022, the company covered the fiscal loss from previous years and the profit tax amounting to RON2 million”, the report reads.
The company’s shareholding structure on June 30, 2022 is as follows: SIF Oltenia with a 86.42% stake, SIF Banat-Crisana with 5% of the share capital, other legal entities (0.14%) and individuals (8.44%).
The shares of Argus S.A. Constanta have been traded on the AeRO market of the Bucharest Stock Exchange under the symbol UARG, since June 5, 2015.
Data from Romania’s statistics office INS shows that edible oil prices have surged 52% in the last 12 months.