It said 70% of revenues came from exports.
Compa recorded total revenues of RON243 million and spending stood at RON247 million in the first six months. The company posted a net loss of RON4 million from a net profit of RON23.7 million in the first half of 2019.
“Compa, a company operating in the automotive industry, has been and is affected by this health crisis knowing that the global car industry, especially the European car industry had an unprecedented contraction in the first part of 2020. Strongly connected to the automotive industry within the European Union, Compa had during the first semester of 2020 and especially in second trimester of 2020 a dramatic decrease of the realized production, respectively of the turnover,” the company said in its half-year report.
The company’s employees had their work contracts suspended and went on furlough in April and May .
At the end of June 2020, the company had 1,923 employees from 2,082 at the end of June 2019.
During the second quarter of 2020, the largest decrease was registered in April, when the turnover was only 20.8% of the average for January and February, the company said.
The company is 19% owned by Ioan Deac, board chairman and general manager, and 18.75% by Ioan Miclea, while 62.2% of the share capital is divided among several capital market investors, including the Norway Sovereign Fund.