The company ended 2022 with a turnover of RON2.26 billion, compared to RON2.24 billion in 2021, due to “sales prices rising mostly for chlor alkali products as a result of manufacturing costs against the backdrop of increases in utility purchase prices”. Overall, expenses stood at RON2.1 billion, up 13% on the year.
Chimcomplex Group had an operating result of RON326.5 million in 2022, lower by 40.8% than RON551.7 million reported in 2021. On December 31, 2022, Chimcomplex’s debts stood at RON960.2 million, up 11.5% on the year.
The company has grown its portfolio of international customers, especially in the region, with exports accounting for 71% of the business plan. Europe is the market that consumes 92.45% of the products manufactured in Ramnicu Valcea and Onești. In the last 12 months, the company has maintained an elevated level of sales on the national and international markets, even though these have been invaded by products from the Asian area, much cheaper, the report reads
“Chimcomplex paid in 2022 to the Romanian state taxes, fees and contributions of approximately 140 million lei, up by 3% compared to 2021. In the next 5 years we intend to remain focused on investment projects that will lead to the processing of the country’s natural resources into products that are currently imported or that can be exported. The trade balance deficit was €34 billion in 2022, of which EUR14 billion is imports of chemicals. With the investments we have planned, we will significantly eliminate imports of chemicals of about EUR 5 billion and we will also create availabilities for export. At the same time, we are interested in technologies producing green hydrogen, green energy, in installations that absorb CO2, in the development of electricity and heat production in cogeneration and trigeneration plants” said Stefan Vuza, Chairman and CEO of Chimcomplex.
Chimcomplex diversified its portfolio of services in 2022 through the acquisition of Sistemplast S.A. Ramnicu Valcea, located on the Oltchim platform, specialized in providing integrated solutions for mechanics, design, construction, verification and monitoring of industrial works. At the same time, in 2021, Chimcomplex acquired a part of the assets of the CET Govora to build a cogeneration plant with a capacity of approximately 108 MW of electricity and 85 MW of thermal energy, to ensure the annual thermal energy needs of the municipality of Ramnicu Valcea.
“The 2022 results show that Chimcomplex’s integrated business map and the strategic plan for 2022-2030 were the keys to positive performance. Tomorrow’s world will become even more a world created by chemistry, as many of the climate-neutral solutions are based on chemistry, from wind turbines to electric vehicles,” added Stefan Vuza.
Chimcomplex is the main manufacturer and supplier of vital chemicals in the region, specializing in polyols, chlor alkali and oxo-alcohols.
CRC shares have lost 1% in the last year, amid deals worth RON56.5 million. The company is valued at RON6.7 billion and is 85% held by CRC Alchemy Holding and 9% by the Romanian State.