The significant drop in revenue compared with the corresponding period of 2022 is due to the fact that Electroarges stopped working with Germany’s Kärcher Group in 2021, which brought in over 85% of the business. However, it has since partly offset it by signing a contract in 2022 with Haier, the Chinese manufacturer, which had previously opened a refrigerator plant in Romania. On the domestic market, the company also had partnerships with Arctic Gaesti and Cer Cleaning Equipment.
Shareholders include Investments Constantin Oradea (36.8%), Trans Expedition Feroviar (12.8%) and Standard Equity (10.8%). Electroarges shares have gained 6.2% since the beginning of the year, on a traded volume of RON621,500. The company has a RON18.4 million capitalization, Bucharest Stock Exchange data show.
(English version by Loredana Fratila-Cristescu)