“1Q sales growth is part of Cemacon strategy of reducing sales seasonality and generating ongoing growth. We expect the upward trend to maintain in the second quarter of the year,” said Liviu Stoleru, general manager of the company. In volume, the company’s sales rose by 51%.
Cemacon’s rising figures come shortly after the company signed an agreement with investment fund Business Capital for Romania Opportunity, controlled by BCR and businessman Florin Pogonaru, regarding the conversion into shares of a Cemacon’s debt worth RON58 million (EUR13 million).
The rescheduling of the package of loans contracted by Cemacon from BCR is the final stage of the company’s organizational and financial reorganization launched in 2010.
Cemacon’s revenue increased 31% last year, to RON63.1 million, and its losses decreased 53%, to RON3 million. Cemacon’s main shareholders include investment fund KJK Fund SICAV-SIF, with a 38.69% stake, Andrei&Andrei Consultanta, with 24.3%, and brokerage firm SSIF Broker, with 20.27%, according to the latest data.
(English version by Catalina Apostoiu)