Romanian port operator Comvex doubles profit thanks to strong demand
Romanian port operator Comvex Constanta (BVB: CMVX) closed the first six months of the year with a net profit of RON 103.8 million, twice the one in the same period of 2022, according to the half-yearly financial report.
iulian ernst · Journalist
· Updated · 1 min read
Romanian port operator Comvex Constanta (BVB: CMVX) closed the first six months of the year with a net profit of RON 103.8 million, twice the one in the same period of 2022, according to the half-yearly financial report.
Its revenues rose by 48% y/y to RON 234.6 million "against the backdrop of the geopolitical context marked by the Russian-Ukrainian war," while the expenditure increased by only 16% y/y to RON 113.1 million, the company said, quoted by Ziarul Financiar.
"Within this framework, the financial results of the company reflected the context of the increase in demand for port operation services that have generated increases in tariffs applied in the port of Constanţa since 2022."
The result was furthermore achieved in the context of two significant Comvex customers diminishing operations: the bauxite flow through the Comvex Terminal was shut down, against the background of the closure of aluminium production units in Romania: the quantities of goods handled for the Galati steel plant diminished significantly.
(Photo source: Sebastiangh/Dreamstime.com)
