RO chemical group Chimcomplex’s shares surge by 29% in one day

The shares of Romanian chemical group Chimcomplex (CHOB), controlled by local entrepreneur Stefan Vuza, jumped by 29% on Monday, April 19, after the company announced it completed the first steps for a secondary listing on the Warsaw Stock Exchange.

The company’s market capitalization thus reached over RON 1.1 bln (EUR 223 mln). The Chimcomplex shares are up 92% since the beginning of this year. The strong evolution was backed by positive financial results reported for 2020.

The company obtained a net profit of RON 95 mln (EUR 19.5 mln) last year, compared to losses of RON 44 mln in 2019, although its turnover declined by 8%, to RON 1.17 bln (EUR 240 mln). The operating profit (EBITDA) reached RON 247 mln (EUR 50.7 mln), representing 22% of the turnover.

This year, Chimcomplex aims to increase its turnover by a third, to RON 1.57 bln (EUR 320 mln), and estimates a similar increase in EBITDA, to RON 331 mln (EUR 67 mln). The net profit should thus reach RON 112 mln (EUR 22.8 mln), according to the company’s budget for 2021.

(Photo: Chimcomplex.ro)