The total value of debts represents 63% of the value of debts to be reimbursed according to the payment schedule, which is part of the company’s reorganization plan.
Debt reimbursement, initially scheduled for December 2023 – February 2024 period, in accordance with the provisions of Romcab’s reorganization plan, was possible by implementing a financing facility of EUR23 million announced in a stock market report in March 2021.
“Romcab will continue to consider the interests of current and potential investors, in accordance with market demands”, according to company representatives.
Romcab ended the first half of 2021 with a net profit of RON13.4 million, compared to a loss of RON14.4 million in the first half of 2020, amid operating revenues of RON861.7 million, 120.1% higher than in the year-earlier period. In 2020, the company’s turnover stood at RON892.3 million (EUR173 million), double against 2019 level.
Romcab Targu-Mures entered insolvency at its own request in early 2017 and returned to trading on the Bucharest Stock Exchange on March 4, 2021, against the backdrop of confirming the reorganization plan submitted and undertaken by the special administrator.
MCAB shares have been trading up 665.9% since the beginning of 2021, amid deals worth RON23.6 million, per stock market data.
Romcab is one of the most active producers of low-tension power cables, boasting an experience of over 70 years and sales in Central, Eastern and Western Europe, on the markets in Germany, Austria, Italy, Hungary, the Czech Republic, Slovakia, Bulgaria, Romania.