November 7 (SeeNews) - Romanian building materials producer Cemacon [BSE:CEON] said on Monday its net profit fell 18% on the year to 6.67 million lei ($1.64 million/1.48 million euro) in the first nine months of 2016.
Cemacon's turnover grew by an annual 29% during January-September to 72.2 million lei, the company said in its third-quarter financial statement filed with the Bucharest Stock Exchange, BVB on Monday.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) edged up 1% on the year to 15.27 million lei in the first nine months.
Also, the company said its current liabilities increased by 7% to 20.3 million lei in the nine months through September as a result of the operational activity and functioning in parallel of its two production facilities at Recea and Zalau, both in Salaj county, northwestern Romania.
In March 2015, Cemacon reached an agreement with Romania's BCR bank on the restructuring of total debt of 33 million euro ($36.6 million).
Cemacon was founded in 1969 in Zalau and focused on the production of ceramic blocks. In 2010, the company started operating a second factory in Recea and listed itself on the Bucharest Stock Exchange.
In 2015, Cemacon turned to a 9.09 million lei profit recovering from a 1.57 million lei loss in the previous year and posted turnover of 67.9 million lei, up 23.5% on the year.
Its shares traded 0.30% higher at 0.3350 lei at 1358 CET on Monday on the BVB.
(1 euro = 4.4497 Romanian lei)