The reports are signed by Zoltan Prosszer, special administrator of Romcab.
Sadalbari thus acquired a total 6 million MCAB shares and increased its ownership stake in the company to approximately 73% from 70.5% within the largest acquisitions lately. Over the past week, Romcab shares have gained 37% on the local stock market.
Romcab reported a turnover of RON1.9 billion for 2021, from RON878.2 million in 2020, which translates into an increase of 114.7%, in line with calculations by Ziarul Financiar (ZF) based on data from the company’s preliminary financial report. Its net profit grew to RON68 million in 2021.
“In the first half of 2022, Romcab aims to complete negotiations with the creditors left in the list of creditors and to exit reorganization”, Romcab said in the report regarding the company’s strategy for 2022 – 2026.
The company plans to reimburse the debts registered in the creditor table and to exit reorganization early, two years sooner than initially planned.
Romcab targets EUR427 million turnover and EUR7 million gross profit in 2022 and to overshoot the EUR1 million threshold in 2026 with a gross profit of EUR48 million.
Romcab exports 80% of its output to markets in Austria, Germany and others and operates two cable factories in Acațari and Targu Mures. In 2021, MCAB shares gained 500%.