The company’s loss increased over five times to RON23.96 million, from RON4.33 million.
Its revenues fell 38.1% in the first quarter to RON42.42 million and total expenses dropped 8.8% to RON66.38 million.
Laminorul entered insolvency at the end of March, after amassing debts of RON624.1 million.
Russia’s steel giant Mechel said in February it sold its Romanian assets to local company Invest Nikarom SRL for a nominal sum of 230 lei (around EUR53).
Invest Nikarom, controlled by two Russian nationals, acquired Mechel Group’s five assets in Romania, namely Ductil Steel Mechel, Campia Turzii S.A., Mechel Targoviste S.A., Mechel East Europe Metallurgical Division SRL and Laminorul. (EUR1=RON4.3344)