Chimcomplex posts net profit of 57.7 million Euro in the first semester
Chimcomplex reported a net profit of RON 282.6 million (57.7 million Euro) with a turnover of RON 1.1 billion (233 million Euro) in the first 6 months of 2021.
Sales on the foreign market, mostly aimed at European markets accounted for about 78% of total product sales in the first half of 2021.
Under these conditions, in the first 6 months of this year, Chimcomplex registers a level of EBITDA of RON 407 million (83 million Euros and 36% of turnover). This allowed the consolidation of the company’s financial position and the repayment of 52 million Euros from the loans contracted in December 2018 for the acquisition of Oltchim’s assets.
“Chimcomplex achieved very good results in the first half of 2021. All our operational and financial indicators registered a remarkable increase. These results were possible thanks to our capacity for innovation and the work done to return strongly to the market. I want to thank the Chimcomplex employees for their commitment and involvement. This collective strength has allowed us to increase the company’s performance more and more,”said Tivadar Runtag, CEO of Chimcomplex.
For the second half of 2021, the company expects to consolidate the positive results from June 30, 2021 and continues to implement the Chimcomplex strategy focused on:
• Accelerating the processes of digitization and development of human resources, key elements in ensuring the development of the company.
• Implementation of investment projects with effect in reducing the carbon footprint and increasing energy efficiency: construction of high efficiency gas and hydrogen cogeneration capacities (installed capacity of 55 MWe 4 turbines); the completion of the new polyol production lines that will allow the doubling of the current volumes and the modernization of the electrolysis installations that will consolidate the position of national leader of the company in the production of hydrogen from water.
• Continuation of the sustainable operation of the production flows from the 2 platforms that would allow maintaining the current trend of sales volumes.