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Romania’s Aquila doubles Q1 net profit

Author Tudor Popescu
Romania’s Aquila doubles Q1 net profit Source: Aquila

BUCHAREST (Romania), May 13 (SeeNews) - Romanian logistics company Aquila [BSE:AQ] said on Friday its first-quarter net profit doubled on the year to 12 million lei ($2.51 million/ 2.42 million euro).

The company recorded a total of 469 million lei in revenue during the first three months of 2022, marking a 12% year-on-year increase, it said in a press release.

Aquila’s acquisition of Moldovan logistics company Trigor during the first half of 2021 brought 1.6 million lei of the total profit, and accounted for 28 million lei of the its total revenue.

"Income derived from distribution recorded a 13% [year-on-year] increase, while that which was derived from logistics services grew by 6%, on par with the revenue generated by transportation services. We can also mention that the gross margin obtained from the sale of goods grew by approximately 19 million lei, the equivalent of 2.2%, driven primarily by the mix of sold goods, as well as the mix of distribution channels," said Catalin Vasile, Aquila CEO.

Aquila had previously announced the opening of a 0.1 MW solar power plant in Ploiesti, southern Romania, to cover some of the company’s energy requirements.

Aquila is a logistics company founded in 1994. Based on an independent financial report, the company recorded a total profit of 70.8 million lei in 2021, as well as total turnover of 1.93 billion lei.

Blue-chip Aquila shares traded up 0.54% at 0.75/share as of 14:47 CET on Friday on the Bucharest Stock Exchange.

(1 euro = 4.9458 Romanian lei)

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