Amonil Switches To RON1.3M Loss In First Quarter

05.13.2011 By Andrei Circhelan

Romanian chemical fertilizer maker Amonil Slobozia (AMO.RO) switched to a loss of 1.3 million lei (EUR317,000) in the first quarter, from a net profit of RON0.93 million in the corresponding period a year ago, the company said in its quarterly report Friday.

Revenue dove to RON3.9 million, from RON46.5 million in January-March 2010, while expenditure dropped sharply as well, to RON5.3 million from RON45.4 million.

Sales narrowed to RON3.9 million, from RON49.1 million in the first quarter of 2010, according to the financial report.

"The numbers should reflect the fact (Amonil) did not produce any chemical fertilizer in the first quarter of 2011," the company noted.

Amonil has a share capital of RON111.2 million, divided into 1.112 billion shares with a face value of RON0.1.

The company is 50.41% cumulatively owned by Belize-registered companies Zalois and Jovline, while Cyprus-registered Salink holds a 13.54% stake.

Amonil shares closed Friday at RON0.014, down 1.41% on the day. (EUR1=RON4.106)