VAE Apcarom profit ups 6 times in Q1

VAE Apcarom reported in Q1 this year a net profit of 1.55 million lei, 5.7 higher than the same period of last year, which amounted to 271,999 lei, according top the financial figures posted on the website of the Bucharest Stock Exchange.
Total revenues of the company amounted at 21.628 million lei (up 8.43 million lei compared to the first three months of 2007), and spending at 19.731 million lei (up 6.8 million lei). The company’s turnover reached 18.776 million lei over January-March.
On March 31, VAE Apcarom had to recoup debts worth 17.13 million lei and had to pay debts worth 28.6 million lei.
Company VAE Apcarom Buzau has stipulated for this year in the budget of revenues and spending a net profit worth some 4.52 million lei and a turnover of 66.154 million lei. The company’s budget stipulates investments worth 22.514 million lei.
Last year, VAE Apcarom reported a turnover of 77.972 million lei and a net profit of 33.774 million lei distributed for the legal reserve (41,158 lei) and the development fund (3,733 million lei).
Rolling stock manufacturer VAE Apcarom is owned by Austrian group VAE Aktiengesellschaft, held by Voestalpine.
Voestalpine Group has been present in Romania since 2004 when Voestalpine Elmsteel, a British subsidiary of the group, part of the division of car industry parts, inaugurated a plant in Satu Mare, which produces at present about 50 million pipelines a year, destined for the car industry.
Austrian iron&steel plant Voestalpine AG has recently announced it will invest 18 million euros in the construction of a center of iron&steel services in Giurgiu, 60 km south of Bucharest, to meet the demand from sectors of construction, production of cars and car parts.
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