EnglishBearings manufacturer URB Rulmenti SA - Suceava reported H1 results that are lower than both last year"s H1 results and the projections for this year. Production decreased by some 35% compared to both indicators reaching 1.2 million bearings and 649,000 rings from 1,9 million bearings and 1.7 million rings.
The turnover decreased proportionally, reaching 6,959,543 RON, equal to 66.18% of the projection and to 67.98% of the figure posted at the end of H1:2006. On the bright side, deliveries exceeded production by 18,000 bearings, and thus stocks decreased. Nonetheless, only 7% of the deliveries were made to Romania, as a result of increasing competition from China.
The reporting period was concluded with losses of 2,514,961 RON, up by 42.49% from the projection, but down by 300,000 RON year-on-year. Antiquated, energy-intensive technologies, low productivity, supply problems and higher prices for steel, electricity and gas were the leading causes of the decline. The company is controlled by BAD Rulmenti - Brasov with 72.43%, followed by SIF Moldova with 24.28%.
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