Romania's Visual Fan targets 58% jump in profit in 2024

Visual Fan projects that its turnover will increase to 151.6 million lei this year, from 134 million lei in 2023, it said in a filing to the Bucharest Stock Exchange.

The company has set a 2024 sales target of around 100 electric vehicles (EVs) for its newest business line, Allview Auto, launched near the end of 2023.

The company wants its Solar Energy division to reach a portfolio of 80 MW of contracted solar projects by the end of the year, as per the statement. Last month, Visual Fan announced it would start building two photovoltaic (PV) installations with a total planned capacity of 1.15 MWp as part of a contract signed with an undisclosed hypermarket chain.

Earlier this year, Visual Fan raised its shareholding interest in subsidiary Intervision Trading by 9 percentage points to 70%. Intervision Trading is the exclusive distributor of Japanese brand AKAI products in Central and Eastern Europe (CEE).

Visual Fan specialises in the production of consumer electronics such as smartphones, laptops and smart home devices under the Allview brand. The company also offers solutions for generating green energy, balanced nutrition, and 100% electric vehicles.

Visual Fan's shares traded 4.83% higher at 15.2 lei as at 1449 CET on Monday on the Bucharest bourse.

(1 euro=4.9678 lei)