Romanian brick manufacturer Cemacon Cluj (CEON), owned by local investors Dragos and Adrian Pavăl, the owners of the DIY network Dedeman, ended the first half of this year with a net profit of RON 49.7 mln (over EUR 10 mln), up 130% compared to the same period of 2021.

The company’s turnover also increased by 47% to RON 123.4 mln (EUR 25 mln).

The company recorded an EBITDA of RON 67.47 mln in the first half of the year, 117% higher than the first six months of 2021. Net assets rose by 21% and exceeded RON 287 mln in the same period.

Cemacon’s performance occurred in a context marked by macroeconomic instability and rising prices for energy and raw materials, Daniel Sologan, general director of Cemacon, said in the half-year report. The management expects stabilization of the construction materials sector in the coming period, followed by further economic growth.

The company has plans for a large industrial hub in the Sălaj area and is actively investing in making its production units independent when it comes to energy.

Cemacon managed to draw RON 63.8 mln (EUR 13 mln) from its shareholders in the first stage of a capital increase operation in August. The company’s shares are trading 25% higher than 12 months ago, based on adjusted prices as of September 1, 2022.

radu@romania-insider.com

(Photo source: Nathan Barlow/Dreamstime.com)