The company estimates a turnover of RON15.7 million in 2014, 24% higher than in 2012, according to the budget shareholders approved at the end of last week.
Revenues are seen declining 45%, to RON17.3 million, and expenses are seen down 3%, to RON16.8 million. In 2013 Cocor had revenues of nearly RON31.7 million and expenses of RON17.3 million, influenced by the sale of commercial spaces.
The company’s biggest asset, the Cocor shopping center, was reassessed at RON46.7 million, up 25% from the end of 2012, while the value of the land on which the store is built has been valued at RON46.4 million from RON47.2 million.
Shareholders also appointed a new managing board, consisting of five members instead of seven. The new board chairman is Florea Popescu, and Aurel Besliu will be vice-president. The other three board members are Mema Marioara, Cristian-Claudiu Pricopie and Daniela Pavel.
Cocor’s shareholders include investment fund Broadhurst Investments (13.32%), SIF Transilvania (10.24%), SIF Muntenia (10%), Daniel Stoica (14,66%), Liviu Ursan (14,83%), Aurel Besliu (over 7%).
Cocor shares last traded on March 11, when their price rose 5.06% to RON81.95, valuing the company at RON24.7 million.