“Since the opening of the procedure until present, despite all difficulties, Romcab has been operating based on the principle <business as usual>, remaining a player on the economic market and having the possibility to keep its customers, brand and patrimony, according to the reports drafted and published on the capital market. It has also managed to significantly improve its foothold on the market, which was seriously affected by its going insolvent, to regain some of its customers and thus reach a growing turnover, from EUR38 million in 2017 to EUR61 million in 2018, followed by an increase up to EUR97 million in 2019, and up to EUR134 million on September 30, 2020,” per the company’s stock market report.
Romcab targets a turnover of at least EUR150 million by the end of 2020.
According to estimations considered when drafting the reorganization plan, Romcab will register stable revenue from the production sold, of EUR180 million per year during the three-year period of the reorganization period, with an average EBITDA of 2.4%.
In 2020, Romcab has employed no fewer than 500 people, with the average staff number nearing 600.
If creditors do not approve the reorganization plan, the irreversible solution of bankruptcy will be implemented.
Romcab, with a market value of RON17.6 million, is 69% owned by Sadalbari SRL in Targu Mures, which, in turn, is held by Motoplus Paneuro, in which Roxana Tarca, Romcab representative in the relation with investors, holds a 99.7% stake.