“The Group’s profitability in 2020 was strongly influenced by the crisis generated by the “Covid-19” virus, leading to negative effects both within the Group, such as temporary interruptions of activity, higher staff security costs, supply difficulties and logistics , as well as in its market, such as the strong decrease of the demand for some products (especially during March – June), negative evolution of the sale prices, difficulties regarding the identification and contacting of new clients. However, the gross profit of the Company in 2020 was achieved in a percentage of 100% compared to the estimates from the Revenue and Expenditure Budget, but by 14% below the level of the previous year,” the report reads.
The operating result was profit in the amount of RON26.2 million in 2020, 14.4% lower than in 2019, and the Base earnings per share (RON/share) was RON0.018, compared with RON0.022 in 2019.
The consolidated net profit was RON16.1 million in 2020, down 54.1% from 2019, and the income from turnover was RON348.8 million, down 3.7% on the year, per ZF calculations.
Vrancart Adjud is 75% owned by regional investment fund SIF Banat-Crisana (SIF1.RO), while Paval Holding, the investment vehicle of Paval brothers, the owners of do-it-yourself retailer Dedeman, owns 16.9%.
Vrancart has a market value of RON187.8 million. Its shares have been trading up 16.5% since the beginning of 2021, amid deals worth RON1 million, per stock market data.