The company also reported a turnover of RON27.1 million for January-March 2024, almost two times lower than in the same interval of 2023.
“Sales related to the production activity decreased by 48% in Q1 2024 compared to the same period of 2023, mainly due to lower revenue generated by the LED lighting fixtures and services (CIL) and electric vehicle charging stations (SIVE) business lines which were impacted by the actions implemented by management to streamline the Company’s activities”, the report also shows.
Electromagnetica is a company that operates in several areas, of which the most important are as follows:
• Activities in the field of energy efficiency (production of led lighting fixtures, electric car charging stations)
• Other production activities (plastic injection moulding elements, electric subassemblies, railway safety elements)
• Rental of premises for offices, industrial premises, land and provision of utilities
• The production of electricity from renewable sources (produced in low-power hydroelectric power plants) and the supply of electricity
Elecgtromagnetica is valued by investors at RON161 million and is 65.45%-owned by Infinity Capital Investments. ELMA shares have gained 12.3% so far in 2024, amid deals worth RON3.7 million, in line with stock market data.