Electroputere posts 9-month loss of over 30.3 mln lei, almost 45pct higher

Electroputere has posted a loss of more than 30.3 million lei in the first nine months of this year, up 44.9pct compared to the similar period of 2016, according to an unaudited report of the company, posted on the Bucharest Stock Exchange (BVB) website. 

"On September 30, 2017, the company recorded total revenues of 72.23 million lei, out of which 58.75 million lei by power transforming division, 12.919 million lei - the rotating electric machines division and 563.971 lei - general services, representing a 4.9pct rise from the revenues recorded in the same period of last year, and a loss of 30.36 million lei from 20.955 million lei in the first nine months of 2016," the document reads. 

Electroputere is a company founded in 1949 and it produces equipment for power industry, being initially structured in four production sectors: rotating electric machines, power transformers, electric devices and locomotives. The company was privatized in October 2007, with Al-Arrab Contracting Company Limited being its majority shareholder.AGERPRES .