The company said the increase in turnover is largely due to the sale of finished products.
In January-September 2013, Cemacon registered a turnover of RON37.6 million and a loss of RON2.82 million.
Its operating revenue also rose 37% to RON48.5 million in the first nine months of 2014, while the slower increase in costs, of 32%, to RON36.23 million, contributed to improving the company’s profitability.
Cemacon’s earnings before interest, tax, depreciation and amortization (EBITDA) surged 57% to RON12.27 million in the mentioned period.
End-September, the company said it will resume the manufacturing of ceramic blocks, in the first quarter of 2015, at its production facility in Zalau, which was slated into service in 2007 and preserved over the last three years due to decline of the construction industry. It also said the measure was necessary because the production capacity of Cemacon’s factory in Recea (Salaj county) reached a record high this year and demand exceeds available supply.
Cemacon’s main shareholders include investment fund KJK Fund SICAV-SIF, brokerage firm SSIF Broker and company Andrei&Andrei Consultanta held by Andrei Cionca, the founder of insolvency practitioner Casa de Insolventa Transilvania (CITR), which jointly own nearly 73% of shares.
On November 7 in Bucharest, Cemacon traded up 4% at RON0.615 a share.