”At present, the UPET management plans to capitalize on other buildings in the company’s portfolio, given the privileged position of the production unit in town (Targoviste, ed.n.), and even a potential relocation of the factory to an industrial area is being considered”, per the company’s half-year report submitted to the Bucharest Stock Exchange.
UPET had a turnover of RON1.95 million in the first six months of 2021, compared with RON5 million in the same period in 2020, and its loss significantly shrank to RON1.8 million in the first six months of 2021, from RON39 million in the year-earlier period.
The company aims to develop new products and expand the customer portfolio, as its main strategic objectives for the coming years.
In January-June 2021, the local market represented 79.5% of the company’s turnover and sales abroad accounted for 20.5%, below the 51.68% level reported in the same period in 2020, and the local market accounted for 48.32% of sales.
UPET is 75% owned by Machine Building Concept Bucuresti.
UPET has a stock market capitalization of RON11.9 million and its shares have been trading up 38% since the beginning of 2021, amid deals worth RON112,930.