Ves Sighişoara - declining business and loss, in the third quarter

The enamelware manufacturer Ves Sighişoara (VESY) achieved, in the third quarter of the year, a turnover of 4.3 million lei, 51% below that of the same period last year, and a loss of almost 5.2 million lei, similar to that of the third quarter of 2022, according to the company's report published yesterday at the Bucharest Stock Exchange (BVB).

According to the document, the decrease in receipts is caused by a lack of orders. At the end of September, the company announced that it was reducing its production capacity in the "Enameling" section until new customers were identified, according to Newsweek.

On the other hand, also against the background of the lack of orders, operating expenses were reduced by 41%, from 15.3 million lei in the third quarter of last year, to nine million lei in the third quarter of this year . Raw materials and consumables expenses decreased by 55%, to 2.1 million lei, while personnel expenses decreased by 39%, to 3.4 million lei, in the same reporting period.

In this context, for the third quarter of the year, Ves Sighişoara reported a negative value for the EBITDA indicator (Earnings before Interest, Taxes, Depreciation and Amortization), of 4.3 million lei, similar to that of the third quarter of last year.

Tomorrow, the shareholders of Ves Şighişoara are summoned to approve the withdrawal of the company's shares from trading at the Bucharest Stock Exchange. In March, the Mureş Specialized Court admitted Ves Sighişoara's request to enter into the preventive composition procedure, and in September it approved the company's restructuring plan.

After the first three quarters of the year, the company had total assets of 27.6 million lei, compared to 31.6 million lei in the third quarter of last year, and total liabilities of 66.4 million lei, compared to 62.4 million lei in September 2022. Ves Sighişoara is 95% owned by Chimsport Orăştie.

In 2020, the Finns from Amer Sports, one of the most important manufacturers of sporting goods in the world, with brands such as Salomon or Wilson, took over the winter sports equipment factory of Chimsport, with which they had an exclusive partnership of production, according to stiriletransilvaniei.ro