The shipyard manufactured four ships totaling EUR4.72 million (RON21 million), but only three of them worth EUR3.53 million (RON15.72 million) reached the final beneficiary.
The company’s sales increased 30% compared with the first half of 2014, when the company supplied ships worth EUR2.7 million (RON12.1 million).
The shipyard’s operating revenue totaled RON20.6 million, lower from the forecasted RON27.35 million, partially because the lack of clients.
Orsova shipyard posted a net profit of RON151,000 in the first semester, compared with RON2.7 million in the first semester of 2014, on the backdrop of exchange rate Romanian leu against euro, in favor of the leu. The shipyard’s representatives said the ship demand is low and the prices offered by the clients are barely enough to cover production costs.
The share capital of Orsova shipyard is split up between investment fund SIF Transilvania, with a 50% stake, SIF Oltenia, with a 20.3% stake, and SIF Muntenia, with 13.1% as well as other stockholders. The company’s share capital is totaling RON32.7 million.
(English version by Manuela Panescu)