The decline of the company’s 2022 turnover is “primarily due to the reduction in the electricity supply activity,” the report reads.
“In the last quarter of 2022, the decrease in the revenues of the energy supply activity by 23.8% compared to the same period of the previous year, combined with the increase in unlicensed activities (by 9.5%) led to a reduction of 9.6% in total revenues compared to the same period last year. Also, the Company obtained in Q4 a profit of 1,739,522 RON, much lower than the profit obtained in the last quarter of 2021, the main reason being the introduction of the new contribution in the field of energy starting on September 1, 2022”, according to the report.
Its EBITDA (profit before taxation, expense with interest, depreciation and impairment) stood at RON42.7 million in 2022, as compared to a loss of RON7.4 million in 2021. The EBITDA margin thus reached 18.5% versus minus 2% in 2021.
On December 31, 2022, equity reached RON384.6 million, up 7% compared to the end of 2021, as a result of the profit obtained in the reporting period. Total assets inched up 0.5% to RON448.5 million and total liabilities decreased by 26.4% to RON64 million.
The company, which has a market capitalization of RON128.5 million, is 28.16% held by SIF Oltenia and 24.12% by the PAS Electromagnetica Association. ELMA shares have gained 28.8% since the beginning of 2023, amid deals worth RON1.4 million. Over the past year, ELMA shares have gained 74.1%, amid deals worth RON14.7 million, as per stock market data.