Compa reports 4.4 million lei loss in mid-year

Auto parts manufacturer Compa Sibiu (CMP) reported a loss of 4.4 million lei for the first half of the year, compared to a profit of almost 4.9 million lei in the first six months of 2024, while revenues decreased by 15%, to 269.4 million lei, according to the issuer's report published yesterday on the Bucharest Stock Exchange (BVB) website.

Revenue from sales of finished products, the company's most important revenue category, decreased by 23%, to 258.9 million lei, while revenues from the sale of goods fell by 14%, to 2.9 million lei. Other operating income amounted to 3.3 million lei, 24% below those in the first six months of last year.

On the other hand, total expenses were 270 million lei, 21% below those in the first half of 2024, while expenses for raw materials and consumables used amounted to 138.9 million lei, down 24%. Employee benefits expenses decreased by 10%, to 76.4 million lei, and depreciation and amortization expenses were 20.9 million lei, 12% below those in the first half of last year.

Under these conditions, Compa Sibiu recorded an operating loss of 0.6 million lei, compared to a profit of almost ten million lei in the period January-June 2024, while net financing costs were about 0.3 million lei.

At mid-year, the auto parts manufacturer's total assets were 635.3 million lei, 1% below those at the end of 2024, while total liabilities were 120.4 million lei, 1% above those at December last year.

Ion Deac had 19.5% of the company at mid-2024, while Mihaela Dumitrescu owned 19.2% of the issuer whose stock market valuation amounts to about 130 million lei.