Orşova Naval Shipyard concluded a contract of 4.05 million euros, for the delivery of a ship in the Netherlands

• This year the company concluded three more contracts, for the construction of three ships worth ten million euros

The Orşova Shipyard (SNO) concluded a contract for the construction and delivery of a river vessel to the Dutch company Rensen-Driessen Shipbuilding, worth 4.05 million euros, according to a report of the issuer published on Friday on the website of the Stock Exchange Bucharest Stock Exchange (BVB).

The delivery will be made in Rotterdam, by the end of March next year, the shipbuilder from Orşova will receive an advance of the contract value, based on a letter of bank guarantee, the rest of the payment will be made after the ship's arrival at the site of teaching, as it appears from the report.

This year, the Orşova Shipyard concluded three more contracts for the delivery of three ships, until October 2024, December 2024 and June 2025, to the same Dutch company, for a total amount of 10.05 million euros (4.1 million euros - the contract value of the ship to be delivered in June 2025, three million euros - the contract value of the ship to be delivered in October 2024 and 2.95 million euros - the contract value of the ship to be delivered in December 2024).

The company will report its second quarter results on August 14.

In the first three months of the year, the Orşova Shipyard achieved a turnover of 18.5 million lei, 23% below that of the first quarter of 2023, but a net profit of 0.67 million lei, compared to a loss of 0.56 million lei, between January and March of last year, according to the report of the river ship manufacturer.

For this year, the company has budgeted operating income of 102.4 million lei, slightly above last year's, of 99.8 million lei, and an operating profit of 5.77 million lei, with 61.8% higher than that of 2023.

In February, Sea Container Services and SIF Muntenia carried out a takeover offer as a result of which they reached a concerted ownership of 94.1% of the river ship manufacturer, below the 95% threshold that would have allowed them to delist the Shipyard Orsova. The two entities had concluded a cooperation agreement until the end of April this year, so they were eligible to launch the offer, probably with the aim of delisting the company.

The stock market valuation of the producer of river ships from Orşova amounts to almost 80 million lei.