Romania's Aquila to invest 16.9 mln euro in fleet, equipment renewal

As much as 10.9 million euro will be allocated for the purchase of 300 Euro 6 vehicles, which will replace older vehicles that pollute more and have lower transport capacity, Aquila said in a filing to the Bucharest Stock Exchange, BVB. The company is also aiming to improve its operational efficiency by allocating 4.6 million euro for warehouse equipment renewal.

The 2024 budget will be put to the vote at a general meeting of shareholders scheduled on April 29.

The company is continuing to make investments and implement measures to secure the necessary resources for achieving its decarbonization goals and reduce greenhouse gas emissions by 10% by 2026, with 2021 set as the reference year, Aquila director of organization and human resources Razvan Bagherea said.

Last year, Aquila invested around 9 million euro, including 7 million euro in the purchase of more than 190 vehicles, as per the statement.

In 2023, Aquila booked an all-time high preliminary net profit of 96.9 million lei ($21.1 million/19.5 million euro), up 14% on the year, on a revenue of 2.5 billion lei.

Founded in 1994, Aquila provides integrated distribution and logistics services for consumer goods in Romania and Moldova. Aquila currently has a diversified fleet of more than 1,600 vehicles, allowing it to transport goods of all temperature categories.

Aquila's shares traded 0.40% higher at 1.25 lei as at 1041 CET on Monday on the BVB.

(1 euro=4.9681 lei)