It said its turnover increased 28%, to RON969 million, and its total revenues grew 21%, to RON1 billion.
In 2017, Oltchim capitalized 77% of its turnover to export and intra-Community market, up from 73% in 2016. The value of export and intra-Community deliveries totaled EUR163 million, five times higher than its imports and acquisitions, which totaled EUR31 million, resulting in a positive net external balance of EUR132 million.
Oltchim entered insolvency in 2013 and is currently under judicial reorganization.
At the end of last year, its creditors approved the sale of some assets to chemical producer Chimcomplex Borzesti for EUR127 million (RON582 million). Chimcomplex bought asset bundles no. 1-5 and partly 7 that Oltchim had put up for sale.
At the end of 2016, the company set off the sale process of nine assets bundles within the reorganization stage of the insolvency proceedings. Bids for other asset bundles have not been approved.
Oltchim expects to complete its asset sale process in the first half of 2018.