Romanian Vae Apcarom Expects RON7.34M Net Profit In 2011

04.20.2011 By Andrei Circhelan

Romanian rolling stock maker Vae Apcarom Buzau (APC.RO) expects a net profit of 7.34 million lei (EUR1=RON4.091) in 2011, up 26.3% from RON5.81 million last year.

Romanian rolling stock maker Vae Apcarom Buzau (APC.RO) expects a net profit of 7.34 million lei (EUR1=RON4.091) in 2011, up 26.3% from RON5.81 million last year.

The company will pay a dividend of RON0.22 per share, namely an overall amount of RON16.23 million. The difference between the amount paid on dividend and the net profit achieved last year will be covered from reserves.

This year, the company expects sales to rise 22.6%, to RON9079 million, from RON74.03 million in 2010.

Revenue should increase 15.9%, to RON90.98 million, while expenditure should rise 14.8%, to RON81.92 million.

In addition, the company plans to invest RON2.87 million this year.

Vae Apcarom has a share capital of RON7.3 million, split into 73.7 million shares with a face value of RON0.1. It is 92.91% owned by Austrian group Voestalpine, through Vae.

The company's shares closed up 2.83% on the day Monday, to RON1.09.