Comelf reports 1.948 million RON net profit in first semester, rising by 61%

Comelf reported for the first semester of this year a net profit of 1.948 million RON, rising by 61% from the same period of last year, according to a report sent to the Bucharest Stock Exchange (BVB).The company's revenues were worth 67 million RON after the first 6 months of this year, when comparing with 64 million RON during the first semester of 2020, rising by 5%, evolution determined by the advance of products' selling price, based on the increase of raw material price.The company had total expenses of 64.182 million RON during the first semester, higher by 3.67% from the first semester of 2020. The report mentions that these have gone up, when comparing with the first semester of 2020, in a proportion smaller than the rise of the revenues, influenced only by the price of raw materials, at an accelerated rate. Other expenses registered a drop, which managed to compensate the increase of the raw materials costs, based on a conservative management of all company's commitments on the side of costs.Comelf reported a profit before the corporation tax of 2.207 million RON, up by 61%. The company's gross result was influenced favorably by the company's costs, other than those with the raw materials, which registered a drop, so that a balance can be maintained between revenues and operational costs, with the purpose of a satisfying profitability, increase of the revenues, based on the increase of the cash price, with the purpose of an optimal recovery of the raw materials costs.Comelf is a manufacturing company in the car construction industry and its objective is manufacturing equipment for energy units and environment protection, metallic structures in the area of renewable energy (source: water, wind and sun), cars and earth-moving vehicles or subsets of these, equipment for lifting and transport machinery, including their components. The manufacturing takes place in 6 production buildings, on a total surface of 80,824 square meters, equipped with machinery, installations, tools for mechanic processing, laboratories and utility networks for carrying out the production processes.