Electromagnetica profit drops to EUR 1.4 mln in 2014

Newsroom 16/02/2015 | 12:08

Electromagnetica profit dropped last year to RON 6.6 million (EUR 1.4 million), from RON 16.2 million (EUR 3.6 million) in 2013, although the revenues increased by 7.5 percent to RON 429.1 million (EUR 96 million), according to data made public by the company on Monday.

Expenses with raw materials and consumables increased from RON 293.2 million (EUR 65 million) in 2013 to RON 336,5 million (EUR 75 million).

The company had at the end of 2014 a total debt amounting to RON 61.6 million (EUR 13 million), higher than those registered on December 31, 2013, totaling RON 52.6 million.

The company’s main activities are electricity supply and production, the production of lighting devices and of energy distribution and measurement equipment.

The largest shareholders of Electromagnetica are the Employees’ Association – Asociatia Salariatilor (29.6 percent of shares) and SIF Oltenia (24.9 percent).