Revenue from contracts reached about RON220 million as of September 30, 2021, up 24.8% compared with the level in the same period last year, RON176.7 million, according to calculations made by ZF based on data from the financial report published on the Bucharest Stock Exchange.
Meanwhile, operating profit fell from RON12.1 million in the nine months of 2020 to almost RON1.3 million this year, a decline of 89%. Assets, on the other hand, rose 13.7%, from RON133 million to RON151.7 million.
A significant share of the revenue, RON220 million, up 24% on last year – comes from the commercial relationship with Germany’s Kärcher. Electroargeș supplies products manufactured for Kärcher to several markets, namely Europe, Australia, USA, Mexico, Japan, China, Argentina, Brazil, etc.
Since the beginning of the year, the shares are down 17% on transactions of RON15.6 million. The company’s capitalization stands at around RON49 million.
The shareholders include the Investments Constantin group (36.8%), the rail freight company Trans Expedition Feroviar (12.8%) and other shareholders (50.3%).
(English version by Loredana Fratila-Cristescu)