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August 6, 2021

Oltchim in September, best financial results this year

RomInsolv SPRL, in consortium with BDO Business Restructuring SPRL, the judiciary administrators of S.C. Oltchim S.A. announce that the company registered in September the best monthly financial results of the last year. According to a communique, the company last month doubled its turnover year-on-year to EUR 11.43 M, up from EUR 5.6 M. Operational losses in September diminished by EUR 7.9 M and the total loss by EUR 11.9 M. The EBITDA had a positive evolution, reaching a minus of only EUR 707,000, compared to minus EUR 8.45 M in September 2012. Cumulated for January-September, the turnover of Oltchim S.A. reached EUR 81.54 M and the operational loss decreased by EUR 50 M, while the total loss during the three quarters went down EUR 136 M. According to the judiciary administrators of Oltchim S.A., these results were determined by the output increase, with the rate of using production capacities reaching 24.08 pc, against an average 22 pc in the previous months, and by the reduction of the stocks of finished products by EUR 328,000 against the previous month. The judiciary administrators also inform that, according to preliminary data, the evaluation report of Oltchim assets indicate a difference of EUR 120 M between the value of Oltchim S.A. resulting from reorganisation and the value of goods resulting from the forced sale in bankruptcy procedure.

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