The decrease was due to the fact that the insolvent company was not able to participate in contract awarding auctions.
Its losses increased 2.5% in 2012 to RON53.2 million, from about RON52 million in the previous year.
Concefa’s debts fell 4.4% to RON167 million, from RON174.7 million at the end of 2011.
The company’s general manager, Horatiu Cercel, transferred his stock in the company to his parents in 2011. Vasile and Maria Cercel own 31.16% in Concefa, and a third individual shareholder, Adina Maria Blajiu, owns 31.5% of the capital, according to the most recent available data.
Concefa shares were last traded on March 14, 2012, before the start of insolvency procedures, at RON0.0102 a share. (EUR1=RON4.3698)