March 3 (SeeNews) - Romania's hospitality holding SIF Hoteluri [BSE:CAOR] said its net profit fell to 1.7 million lei in 2022 ($366,695/345,402 euro), from 4.6 million lei in the previous year.
The company’s net turnover increased to 20.4 million lei last year, from 16.4 million lei in 2021, SIF Hoteluri said in a preliminary financial statement filed with the Bucharest Stock Exchange, BVB, earlier this week.
The company’s operating income more than tripled to 76 million lei in 2022, while operating expenses jumped to 73.8 million lei from 19.7 million lei a year earlier.
Total assets amounted to 100.4 million lei at the end of 2022, increasing from 95.5 million at the end of the previous year, while total debts grew from 7.2 million lei in 2021 to 7.7 million lei in 2022.
In November, SIF Hoteluri concluded the sale of its DoubleTree by Hilton hotel in the western city of Oradea for 11 million euro ($11.7 million). A month later, the company concluded a bilateral promise for the sale of a hotel in the northern city of Baia Mare for 2.1 million euro.
Romanian investment fund SIF Banat-Crisana [BSE:SIF1] holds a 98.99% stake in SIF Hoteluri. The hospitality holding owns Eurohotel Timisoara, Eurohotel Baia Mare and Hotel Beta Cluj.
SIF Hoteluri’s shares closed 2.02% lower at 3.88 lei on the BVB on Thursday. They did not trade by 1147 CET on Friday.
SIF Banat-Crisana's shares traded 0.41% lower at 2.43 lei as at 1025 CET on Friday.
(1 euro=4.9218 lei)