After more than 50% growth in the first half, the company of Augustin Oancea, a low-profile Campina businessman, believes it will see EUR700 million revenue.
Back in 2007, when Tinmar Ind started operations, its revenue stood at EUR15 million. Tinmar Ind is the second largest business owned by a Romanian entrepreneur after do-it-yourself retail chain Dedeman of brothers Adrian and Dragos Paval.
The first half revenue stood at 1.56 billion lei (EUR350 million), 51.5% higher than in the year-earlier period, according to the data supplied by the company. Trade Registry data, however, show the profit shrank from RON39.5 million to RON25.6 million.
“The rise in revenue was generated by the increase in the amount traded across all lines of business – electricity, natural gas and oil products,” says George Voicu, supply manager with Tinmar Ind.
“According to our revenue estimates for December 31, 2015, we will exceed the EUR700 million threshold.” (EUR1=RON4.4604)
(English version by Loredana Fratila-Cristescu)