COMPANIES ECONOMY FINANCE&BANKING INVESTMENTS

Fondul Proprietatea registered RON 447 million net profit in 2016

Fondul Proprietatea (FP) registered, in 2016, an audited net profit of RON 447 million, compared to an audited net loss of RON 565.1 million in 2015, according to a report of the company.

“The main factor that contributed to the registered profit in 2016 was the net turnover from selling the available shares for sale, which was partially compensated by the net losses from evaluating the shares at fair value by profit or loss, by losses in the depreciation of shares available for sale, and losses resulted from the sale of assets held for sale”, the document shows.

On December 31 2016, the company’s total equities were RON 11.386 million, a decrease by 5.5pct compared to the value from 31 December 2015, of RON 12.053 million.

Fondul reported on December 30 2016 a value of RON 11.427 billion net assets and a value of the net assets per share (“VAN per share”) of RON 1.1865 (a total positive yield of the VAN per action by 7.3pct compared to December 31 2015).

At the end of 2016, the discount of shares’ prices of the Fond as against the VAN on December 30 2016 was 33pct. In 2016, the discount calculated according the DPI (Statement of Investment Policy) varied between 27.4pct and 39.5pct.

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