EnglishTehnoton SA - Iasi (RASDAQ:THNI) concluded last year with a significant decrease in turnover, following a decrease in 2006. According to the annual report, last year"s turnover is 20,033,755 RON, down by approximately 13% from 2006, when the turnover was 22,762,000 RON, down by 19% from 2005.
Revenues amounted to 29,752,394 RON, up by 15% y/y, but expenses also gained 15% to 29,161,383 RON. The company also reported a gross profit of 591,011 RON and a net profit of 288,002 RON. Despite the decrease in turnover, the net profit gained 90% y/y. All of it will be allocated for development.
A report released in the second half of last year, several short-term risk factors have been identified: a decreasing turnover trend, a significant increase in production costs, and an unstable economic environment that could lead to a decrease in the purchasing power of the company"s customers.
Tehnoton was established by Government Decision 160/1991. The company became private in December 2000 and is currently controlled by Omega is Communications SRL - Iasi with 72.58%. Tehnoton produces gas-powered cooking stoves, washing machines and various industrial products.
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