Romanian power transformer producer expects profit for the 1st time after 2000

Romanian power transformer manufacturer Electroputere Craiova wants to reach a turnover of EUR 43.7 million this year, up by almost a third (31.7%) compared to 2015. The company also expects to have a profit of EUR 49,000 this year, the first positive result after 2000, reports local Mediafax. In 2015, the producer had losses of almost EUR 5.3 million and total revenues of EUR 33.2 million, up by 12.7% over the previous year. The sales totaled EUR 6.4 million, almost double compared to the previous year, whereas the sales on the foreign markets were EUR 26.6 million. The company, which is listed on the Bucharest bourse’s alternative trading market AeRO, has a capitalization of EUR 9.95 million. It is controlled by the Saudi group Al-Arrab Contracting Company. Electroputere Craiova also used to produce train engines, but sold this business line to local group Grampet in 2012. editor@romania-insider.com