“In 2017-2021, while insolvent, Romcab focused on putting the business back on a solid footing, on development and on aggressively scaling up production,” the report to the Bucharest Stock Exchange published on Monday evening said.
“In these five years, Romcab achieved a nearly ten-fold increase in revenue, from EUR38 million in 2017 to over EUR370 million in 2021. It was extremely important for Romcab’s business to reach the critical mass: annual revenue of more than EUR350 million.”
For 2022 Romcab budgeted EUR427 million revenue and EUR7 million gross profit, so that in 2026 the company will overshoot the EUR1 billion revenue mark with a gross profit of EUR48 million.
“In 2022, Romcab will enter a new phase of development. Thus, the company will focus on significant profitability growth, increase of equity and financial consolidation of the business over the next five years. In terms of volume, we estimate that, in a moderate scenario, Romcab will exceed annual revenue of EUR1 billion in 2026.”
The company is counting on electric cars to be developed and used on an increasingly large scale, which includes charging stations for electric cars. Romcab’s main sales markets are energy cables, cables used in construction and consumer goods. The secondary market is automotive.
Romcab is listed on the main trading segment of the Bucharest Stock Exchange and has a capitalization of EUR20 million.
(English version by Loredana Fratila-Cristescu)