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Oltchim achieved 2.2 million Euro gross profit in Q1 2017

The consortium of legal administrators formed by Rominsolv SPRL and BDO Business Restructuring SRL together with the executive management of the company and the special administrator informs that Oltchim SA recorded in the first quarter of 2017, on total activity, a gross profit of 2.2 million Euro and a positive EBITDA of 4.3 million Euro, respectively 8.9 per cent of the turnover in the amount of 49 million Euro.

2017-05-03 10:39:31

The results recorded in the first quarter of 2017 by Oltchim SA confirms further upturn of the company and that measures to streamline the business set out in the reorganization plan have been successfully implemented, according to company officials.

The data shows an improvement in the first quarter of 2017 compared to the same period of 2016 of the main economic - financial indicators (turnover, gross result, net result), thus: turnover increased by 11.3 million Euro or by 30 per cent respectively; the gross result increased by 947 thousand euro, by 72 per cent respectively; the net result increased by 723 thousand euro, by 76 per cent respectively.

Regaining of the markets, mainly external and revamping of the main process plants have helped to achieve these results as well as to increase the quantities of finished products sold. Thus, the company managed a significant entry into the oxo-alcohol market, with sales being four times higher than in the first quarter of 2016.

The good evolution of the company is also reflected in the comparison with the provisions of the Reorganization Plan, the cumulative 23-month EBITDA is higher by 13.96 million Euro compared to the one provided in the plan (cumulative EBITDA achieved in 23 months - 27.26 million Euro, compared to 13.30 million Euro - as foreseen in the Plan).



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