September 1 (SeeNews) - Romanian renewable packaging manufacturer Promateris [BVB:PPL] closed the first half of 2023 with a net loss of 4.8 million lei ($1 million/ 970,890 euro), compared to a net profit of 4.7 million lei reported for the same period of last year, it said on Friday.
Turnover fell 21%% on the year to 69 million lei during January-June, Promateris said in a preliminary first-half report submitted to the Bucharest Stock Exchange.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by an annual 77% to 2.7 million lei in the first six months of 2023.
The companys total assets decreased 5% to 196 million lei at end-June from 206.8 million lei at the end of 2022.
At the end of June, Promateris was 34.5% owned by businessman Florin Ion Pogonaru, while 24.03% was controlled by Paval Holding, the owner of Romanian DIY retailer Dedeman. Some 21.35% of the company is owned by hospitality company Nord, while individuals and other legal entities hold 20.1% among themselves.
Founded in 1991 as Prodplast, the company rebranded to Promateris in 2020. It is specialised in the production of environmentally friendly packaging.
Promateris shares traded flat at 10 lei as at 1021 CET on Friday on the Bucharest Stock Exchange.
(1 euro=4.94414 lei)