The company’s stockholders will decide September 25 on whether to issue a number of 5.99 million new shares with a face value of RON2.5 per unit.
Also, the stockholders will analyze the effects upon the company’s operations caused by the significant lowering of navigation in the second semester of 2011 due to low Danube levels, as well as of the interruption in the first three months of 2012 on Danube freezing up.
Navrom switched to profit last year, posting net earnings of RON2.21 million, after losses of RON3.45 million in 2010.
Navrom’s revenue dropped 9.1%, from RON222.38 million in 2010, to RON202.07 million, while expenses dropped 12%, from RON225.83 million to RON198.6 million. The company’s turnover decreased 6.7% last year, to RON185.9 million.
Navrom’s share capital of RON29.9 million is divided into 11.9 million shares with a face value of RON2.5 each. According to the latest data, Transport Trade Services Bucuresti controls 81% of the capital.
On Monday in Bucharest, Navrom traded at RON3.1 per share. (EUR1=RON4.4939)