EnglishMoldoforest SA - Lunca Cetatuii, Iasi County reported a 30% decrease in operating revenues in 2006 compared to 2005. Operating expenses only decreased by 26%. The turnover decreased to 1,063,651 RON. Exported production reached 115,000 USD, whereas operating expenses reached 3,711,298 RON. The company concluded 2006 with overall losses of 901,938 RON. The management explained the poor results by the ongoing restructuring program aimed at terminating unprofitable operations.
2004 was the last year when Moldoforest made a profit, namely 1,636,195 RON against a turnover of 6,440,827 RON. A year later, the turnover decreased to 2,955,594 RON, whereas losses amounted to 998,088 RON. At the end of Q1:2007, the company reported losses of 95,567 RON and a turnover of 261,303 RON, compared to 176,778 RON a year before.
Moldoforest has closed several branches, in Harlau, Lespezi, Sarca, Husi and Vaslui and has decided to sell a plot of land of 62,000 sq.m. and the production halls on it. The assets are located in Lunca Cetatuii. The company was privatized in 2002, when 88.6% of the share capital was sold to DawnRom SRL - Iasi for 1.05 million RON.
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