At the end of June, the company posted a loss of RON70.3 million, according to the company’s financial records.
The January-September result is very close to the loss of RON178.2 million in the same period of 2010.
Starting August, the company has implemented a furlough program, sending 1,000 employees at a time into leave of absence, because of raw material and working capital shortages.
At the end of September, the company had 3,470 employees, as opposed to 3,570 in the same interval of 2010.
Oltchim said the operating loss narrowed 18% on the year, to RON90 million, but the financial losses climbed 32% to RON89.8 million.
Sales widened by 38% on the year, to RON1.257 billion, from RON909.1 billion in January-September 2010.
Revenue rose 39% to RON1.359 billion, while expenditure increased by 33%, to RON1.538 billion.
At the end of September, the company had debts of RON2.511 billion, 9% more than RON2.296 billion in the beginning of the year.
At the same time, receivables widened by 22%, to RON260.5 million.
The Economy Ministry has a 54.8% stake in Oltchim, while German PCC SE holds 17.47% and investment fund Carlson Ventures holds 14.02%.
Early-Monday in Bucharest, Oltchim shares were pushing the maximum allowed variation limit, jumping 15% on the day, to RON1.742. They later erased part of gains, trading up 1.6% at some 11:40 local time. (EUR1=RON4.3479)