The company had a net profit of RON17.8 million in January-June 2022, as compared to a net loss of almost RON18 million in the same period in 2021.
Its debts decreased by 16.7% to RON72.3 million in the first half of 2022, from RON86.8 million in the year-earlier period.
“The main factor impacting the results of the activity in the first half of 2022, boosted by the war in Ukraine, was the significant increase in energy prices. These prices, which had already seen record highs in 2021 (especially due to prices of CO2 certificates), climbed further in the first half of 2022 amid gas price hikes and a growing and misbalanced demand/production ratio”, Electromagnetica said in its half-year report.
With a market value of RON91.2 million, the company is 27% owned by SIF Oltenia (SIF5.RO) and 24% by the PAS Electromagnetica Association, with the remaining shares being distributed to other shareholders, as per stock market data.