The company’s net profit reached RON9 million, below the 2021 level. Meanwhile, operating income hit RON16.4 million, up 15%.
“The company’s evolution during the first nine months of 2022 was influenced by the increase in raw material prices and utility tariffs generated by international market trends, which were also reflected in the local market, as well as by the increase in salary expenses and services provided by third parties”, reads the company’s report.
Operating expenses climbed from RON256.2 million to RON393.8 million on September 30, 2022.
„In spite of the negative impact onto the company’s financial situation, the results recorded by Vrancart Group in the first nine months of 2022 confirm its ability to continue to generate profits and its financial strength. Thanks to an agile commercial and pricing policy, the Group was able to constantly adapt its sale prices to the new, particularly volatile market conditions”.
Vrancart has a RON178.1 million capitalization, after a 26% decline since the start of 2022, amid RON1.6 million deals.
(English version by Catalina Apostoiu)