Romanian car parts maker Compa 9-mo net profit plummets 84% y/y

The company's net result was impacted by increases in prices from suppliers, which could not be offset by higher sales prices, the company said in an unaudited financial report filed with the Bucharest Stock Exchange.

Compa’s turnover amounted to 552.8 million lei in January-September, registering a 1.8% increase on the year.

Non-financial expenses rose by an annual 4.7% to 558.7 million lei in the first nine months of 2022, lowering the operating result by 74.3% on the year, to 5.15 million lei.

Compa is the parent company of four other subsidiaries. At the group level, Compa’s consolidated net profit sat at 1.79 million lei during January-September, down 89.8% on the year.

The group’s turnover rose by 1.53% on the year, amounting to 567 million lei at the end of September 2022.

Compa has a diverse product portfolio that includes components for injection systems, windscreen wipers, turbochargers, steering gears and columns, springs, drive shafts, and more.

Compa shares traded 5.83% lower at 0.404 lei on the Bucharest Stock Exchange at 1516 CET on Friday.

(1 euro=4.8902 lei)