If you can see this message, your browser does not support canvas and needs an update. Sorry. :(
Sunday, September 23, 2018 
Market Status: CLOSE
About us and Governance Investor Relations Contact
Advanced search

Market News


OLTCHIM S.A. RM. VALCEA - OLT

H1 2018 report

Release Date: 8/13/2018 7:49:44 AM

IRIS Code: F5BF3

Registration no:9205/13.08.2018

 

 

Economic achievements of OLTCHIM S.A. are increasing in the first 6 months of 2018

 

The company OLTCHIM S.A. continues for the 6th consecutive year the positive series of operational and financial performances achieved during the insolvency.

Going on with the strategy of production and sales increase by monitoring the market evolution, as well as the effort to streamline the business and to optimize the costs translate into these performances for the first half of this year as well as for the second quarter.

 Key aspects in the first half of 2018 compared to the similar period of 2017:

Ø  Turnover of 577.2 million lei increased by 20.2%

Ø  Export sales of 98.7 million euro increased by 20.3%

Ø  Gross profit of 102.7 million lei increased 2.8 times

Ø  EBITDA* of 126.7 million lei increased 2 times

The turnover achieved in the first 6 months of this year of 577.2 million lei increased by 20.2%  compared to the similar period of the last year (6 months 2017: 480.2 million lei) being supported by higher sales prices for chlor-alkali products, as a result of the increase in international quotations as well as higher sales volumes of oxo-alcohols and chlor-alkali products.

The value of the export achieved during January-June 2018 is 98.7 million euro reaching 80% of turnover, up by 20.3% than that registered during the comparison period (6 months 2017: 82 million euro accounting for 78% of the turnover).

Gross profit of 102.7 million lei registered in the first half 2018 recorded an increase of almost 3 times compared to the comparison period (6 months 2017: 36.7 million lei).

In these circumstances EBITDA of 126.7 million lei recorded a significant improvement, namely a doubling of the value from the first half of 2017 (6 months 2017: 61 million lei).

The company has a positive external balance of 86.4 million euro, the value of imports and intra-community acquisitions being of 12.3 million euro.

During January-June 2018 the company carried out investment and major repair works, from its own sources, amounting to 6.1 million lei in order to ensure the safe and efficient operation of the production plants allocating 56.4% more compared to the same period last year (6 months 2017: 3.9 million lei).

In the first six months of the current year, Oltchim S.A. has contributed to the Romanian State Budget  with the amount of 61.3 million lei and to the local budgets with 2.5 million lei.

Key aspects of the second quarter 2018 compared to the similar period of 2017:

Ø  Turnover of 279.6 million lei increased by 8.2%

Ø  Export sales of 49 million euro increased by 8%

Ø  Gross profit of 46.5 million lei increased by 75.9%

Ø  EBITDA of 58.2 million lei increased by 41.1%

The turnover achieved in the second quarter of this year of 279.6 million lei increased by 8.2% compared to the similar period of the last year (Q2/2017: 258.4 million lei), driven by the increase in sales price of caustic soda.

The value of the export achieved in the second quarter 2018 is 49 million euro accounting for 81.5% of the turnover, up by 8% than that registered during the comparison period (Q2/2017: 45.4 million euro accounting for 80% of the turnover).

Gross profit of 46.5 million lei registered in the second quarter 2018 increased by 76% compared to the comparison period (Q2/2017: 26.4 million lei).

EBITDA of 58.2 million lei recorded an increase in the second quarter by 41% compared to the second quarter 2017 (Q2/2017: 41.2 million lei).                                                                                                                                             

The full version of the Half Year Report 2018 is available on the OLTCHIM S.A. website at www.oltchim.ro, in the Investor Relations / Financial Information section as well as in the link below.

The financial statements completed on June 30, 2018 were not audited.

Further information can be obtained by phone 0250/701665, fax 0250/735030 or e-mail oltchim@oltchim.com.

 

Judicial Administrator

ROMINSOLV SPRL

 

 

 Judicial Administrator

 BDO BUSINESS RESTRUCTURING SPRL            

 

 

Special Administrator

Bogdan Stanescu

 

 

Deputy General Manager

Victor Avram

 

 

 

Economic Manager

    Alin Smeu 


 



* Profit before interests, taxes, depreciation, amortization

 

 



 Print

Information provided by IRIS, the news platform of the Bucharest Stock Exchange.

______________________

Bucharest Stock Exchange ("BVB") is not responsible for the content of this News item. Issuers whose financial instruments are traded on markets operated by BVB are required to report in accordance with current legal and regulatory provisions. BVB publishes these Reports as market administrator, appointed by ASF. When, for investors’ information, Reports are published, either signed by different persons, or with conflicting information, legal liability lies fully with the signatories. BVB disclaims any obligation or responsibility towards issuers or third parties, regarding the reality, completeness and accuracy of information provided by them and distributed by BVB. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


©2016 Bucharest Stock Exchange. All rights reserved