The revenue decline came amid falling freight sales after the suspension of contracts with Damen Shipyards Mangalia, reads the company’s financial report.
Total revenues slid 17%, to RON1.6 million.
In early 2022, Damen Shipyards Mangalia SA suspended the contracts carried out on Mangalia shipyard, with the management of Santierul Naval 2 Mai SA specifying in the financial report this collaboration must be resumed or new business opportunities must be identified.
Santierul Naval 2 Mai SA is owned by the Romanian state with a 93% stake. The company has a RON70.7 million capitalization and since early 2022 its shares have dropped by 12%, amid deals of just RON35,800.
Last year, Santierul Naval 2 Mai SA posted RON3.34 million turnover and RON14,325 profit, with seven employees.
(English version by Catalina Apostoiu)