„Although the financial situation was negatively impacted, the results of VRANCART S.A. in the first six months of 2023 confirm the Company’s ability to continue to generate profit and its financial strength,” reads the company’s bourse statement.
In June 30, 2023, the company’s total assets amounted to RON609.4 million, slightly up from RON604.5 million in December 31, 2022.
The total liabilities recorded as at June 30th, 2023 amount to RON292.278.701, up by 3% from the amount recorded as at January 1st, 2023, mainly due to the financing of working capital, by using short-term credit lines and also as a result of the establishing of the debt related to the dividends to be paid (RON12.033.855) according to the decision of the General Meeting of the Shareholders of April 2023.
The amount of investments made by thecCompany during the first six months of 2023 was RON 25.290.260, compared to RON 18.365.199 lei in the first half of the previous year. Major investments consisted of modernization and endowments of the corrugated cardboard machine in Calimanesti, the relocation of the production centre in Targu Mures, corrugated cardboard converting machines, modernization of the paperboards machine and endowments for the collection and recycling centers.
The Company expects that the investments made in the first half of the year will have a favorable impact onto the Company’s financial situation in the medium and long term.
Vrancart has a RON207 million capitalization and its shares have added 28.55% in 2023.
(English version by Catalina Apostoiu)