Costs with raw materials and materials rose 20% due both to a 7% increase in the quantity produced, compared with the same period a year before, improved productivity through investments started at the end of 2017 and put into operation in 2018, and to a generalized increase in the acquisition price of raw materials, materials and fuels, triggered by the current economic context, the company said in its report.
Salary costs saw a 29% increase due both to a 19% rise in the number of employees and to salary-related legislative amendments implemented at the end of 2017, effective January 1, 2018.
Commercial debts rose 2% versus the end of 2017, while bank debts and loans saw a 9% decline.
The company’s net assets were 21% higher at the end of September 2018, compared with the end of 2017, exceeding RON132 million.
Cemacon reported a turnover of RON54.85 million in the first half of 2018, up 41% year-on-year, while its EBITDA stood at RON21.07 million, the equivalent of a 39.5% margin. Its net profit was 160% higher year-on-year in January-June 2018.
Cemacon has a market capitalization of RON168,4 million, after its shares have decreased by 45% in 2018, in terms of book value, following transactions worth RON20,7 million.
The latest stock market reports show that Dedeman, the largest entrepreneurial business on the Romanian market, is the majority shareholder of Cemacon, with a 40.8% stake.