“The Company’s performance in the first three months of 2024 was influenced by the volumes of products manufactured and services provided in the first part of the quarter, but also by the decreasing sales prices, as costs did not follow this trend. At the same time, salary expenses and third-party expenses recorded increases”, as per the report.
Its revenue dropped 21.5% on the year to RON92.7 million in Jan-March 2024, and expenses reached RON97.4 million, compared to RON114 million on March 31, 2023. The operating result was loss of RON2.6 million.
Lion Capital (LION) is the company’s largest shareholder, with 76% of the share capital, being followed by Paval Holding (17.3%), the investment vehicle of Paval brothers, the founders of do-it-yourself retailer Dedeman.
Vrancart has a market capitalization of RON262 million after its shares have gained 8.5% in the last 12 months, amid deals worth RON2.8 million.