In January-June 2021, the company had an EBITDA of as much as EUR461,000.
The company’s revenue reached RON20.3 million in the first half of 2021, double the level reported in the same period in 2020. Its operating revenue stood at RON20 million in the first six months of 2021, 241% higher than in the same period in 2020, while total expenses reached RON18.9 million, up 65% on the year, per calculations by Ziarul Financiar (ZF).
Sinteza Oradea ended 2020 with a turnover of EUR4.5 million and targets an increase of nearly 80% for 2021, up to EUR8.2 million, considering that raw material prices surged over 100% from end-2020, and the plant halted its activity in 2020, for two months.
The company targets to end 2021 with net profit, compared with 2020 when it reported a negative result.
Sinteza Oradea holds nearly 10% of the European benzoic acid market. Approximately 70% of production is sold mostly in Western Europe (Germany, UK, France), but it also has partners in Turkey, Russia, Ukraine and Israel. The company’s end clients are producers of plasticizers, paints, rubber and other industrial applications.
Sinteza was established in 1905, became a state-run enterprise in 1954 and was organized as a joint-stock company in 1990. Sinteza Oradea has been listed on the Bucharest Stock Exchange since 1997, under the ticker symbol STZ.
Sinteza, with a stock market capitalization of RON19.2 million, is 33.9% held by closed-end investment fund BT Invest, managed by BT Asset Management, 28.1% owned by Tibor Tincau and 18% run by Platforma ROCA.
STZ shares have grown by 27.9% since the beginning of 2021, amid deals worth RON148,300.