Its turnover fell 8% on the year to RON53.6 million in the first quarter of 2017. On sectors of activity, the electricity supply saw a decline of 7.18% and the electricity production saw a decrease of 11.7%.
The loss on the electricity production segment was mainly due to postponing some auctions involving power meters.
Compared with the end of 2016, the company’s equity fell 1.9% to RON324.2 million, due to the first-quarter loss, while total debts rose by RON813,032.
Electromagnetica, with a market capitalization of RON126.7 million, is 29.62% owned by the Employees Association and 25.27% by regional investment fund SIF Oltenia (SIF5.RO).