In the first nine months of the 2012 fiscal year, the company switched to a loss of RON3.47 million, from a net profit of RON7.57 million at the end of June 2011.
Revenue dropped by 28.3% to RON200.62 million, while expenses were reduced by 24.8% to RON203.97 million.
Titan expects sales down by almost 5% to RON331.6 million (EUR76.4 million) in the current fiscal year.
Titan’s share capital is RON40.8 million, made up of 408.4 million shares with a face value of RON0.1.
Austrian firm LLI Euromills, a member of the Leipnik-Lundenburger Invest Beteiligungs group, owns 97.58% of Titan’s stock. The group is controlled by Raiffeisen-Holding Niederösterreich (50.05%) and Raiffeisen Zentralbank Österreich (33.06%), according to information on the group’s website.
On Monday in Bucharest, Titan traded at RON0.269 per share. (EUR1=RON4.5186)