The company said its loss dropped to RON5.7 million, from RON17 million in 2012, but financial results remain negative due to the costs of a EUR26 million loan contracted before 2010, plus the exchange rate differences.
The company’s revenue rose 21% to RON54.9 million, from RON45.4 million a year earlier, while expenses were at RON60.6 million, up 11% from RON54.8 million in 2012.
Cemacon’s sales rose 35% by volume, mainly due to the strengthening of the company’s position on the Transylvanian market and the expansion of its distribution zones, the report reads.
In 2014, the company targets a double-digit increase in sales and operating profit.
The company announced Monday that Romanian lender BCR outsourced EUR12 million of Cemacon’s debt to Netherlands-registered investment fund Business Capital For Romania Opportunity Fund Cooperatief UA.
Investment fund KJK Fund SICAV-SIF, SSIF Broker and consulting firm Andrei&Andrei Consultanta jointly own a 77% stake in Cemacon.