National Salt Corporation Salrom's H1 profit up 8pct

The National Salt Corporation Salrom, the only salt producer in Romania, recorded in the first half of 2018 an 8pct increase in turnover compared to the same period of last year, having reached 186.1 million lei, while the total revenues of the company amounted to 197.2 million lei, according to a press release issued to AGERPRES. 

The estimated financial results for the first half of 2018, before the payment of royalties, also recorded increases over the previous year. Thus, the EBITDA margin rose by 7pct, while the estimated gross profit increased from 59.4 million lei in 2017 to 65.3 million lei in 2018, that is 10pct. 

"The preliminary financial results for H1 above the budgeted level give us the confidence that we are on the right track also in 2018, after last year we reported the highest profit recorded in the company's history. For us, it is a confirmation that the organizational transformation process started in recent years, based on the recognition and stimulation of performance, has resulted in a sustained increase in labour productivity and has also led to an increase in the satisfaction of our clients," said Salrom's general manager Dumitru Matei. 

The National Salt Corporation is of major interest to the Romanian economy and one of the top 10 salt producers in Europe. Salrom is a state-owned joint stock company (51pct), the private capital being held by Fondul Proprietatea (49pct). 

The relatively large spreading of salt deposits on the territory of Romania led to the emergence and development of the seven mining operations, which later became branches of the National Salt Corporation. In five of them - Praid, Targu Ocna, Slanic Prahova, Cacica, E.M. Valcea salt mines - the corporation has initiated or developed tourism and spa objectives, while at Ocna Dej and Ocna Mures salt mines the main activity remained the extraction and selling of salt.