English
Electrical equipment producer Electrotel SA Alexandria ended 2006 with a net profit of 328,146 RON, which is significantly below the company"s potential, according to Valeriu Velciu, General Manager.
Last year, exports amounted to 223.791 EUR and the company estimates its exports might triple next year. Exports will increase this year, as Electrotel has already signed contracts with companies in Germany, France, the Republic of Moldova, Ukraine, Russia, Lebanon, Algeria, Saudi Arabia.
In the past two years, the company invested over 1,300,000 EUR in order to modernize its production facilities. This year, Electrotel plans to invest some 1,000,000 - 1,200,000 EUR.
The company expects a turnover of 12,000,000 EUR for this year. Electrotel reported losses of 1,246,301 RON lei for the first quarter of the current fiscal year. Turnover amounted to 3,475,389 RON, while revenues totaled 4,528,984 RON. The company is listed on Rasdaq under the symbol ELOZ. The majority shareholder is Unicapital S.A. Bucharest (89.52%), followed by Valeriu Velciu (3.13%) and others (7.49%).
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