UCM Resita losses doubles in Q1 2009

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UCM Resita hydropower machinery and equipment manufacturer closed Q1, 2009 on losses of RON 16.432, twice the Q1, 2008 losses, according to financial information disclosed to the Bucharest Stock Exchange.

The company’s business turnover increased 1.5 times, to RON 24.569 million, while revenues diminished 10 percent, to RON 32.096 million. Spending was up 9.5 percent, to RON 48.528 million.

As of March 31, 2009, UCM was RON 282.28 million in debt and had RON 112.442 million worth of claims to retrieve.
UCM Resita management is expecting the company to post a 2009 gross profit of RON 582,789, almost two times smaller that the 2008 profit of RON 1.05 million.

The total revenues for 2009 are projected at RON 207.05 million, up from RON 195.11 million in 2008, on total spending estimated to reach 206.46 million, more than 194.01 million in 2008.

The turnover approved for 2009 is set at RON 187.38 million.

UCM Resita is traded on the third tier of the Bucharest Stock Exchange, having a market capitalisation of nearly RON 23.567 million.
Shareholders in UCM are Inet Ag Tenlingen CHE, with a 96.38-percent stake, and other investors, with 3.61 percent.

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