EnglishBuzau-based company VAE Apcarom (BSE - APC) posted 2,35 million EUR in net profit for 2006, down 50,76% year-on-year. Turnover declined by 1,93% from 2005, totaling 50,46 million RON.
The Extraordinary General Meeting decided on April 12th that approximately 95% of last year"s net profit be used as development fund, while the remaining 119.782 RON will be registered as legal reserve. Shareholders also approved this year"s income and expense budget, which forecasts a net profit of 1,31 million EUR on turnover of 15,9 million EUR. The company intends to invest 820.790 EUR this year.
Railway equipment manufacturer VAE Apcarom Buzau has a share capital of 7,37 million RON, divided into shares with a face value of 0,1 RON. The majority shareholder is Vae Aktiengeselschaft with 77,46%, followed by Citibank Romania - Nominee Account with 9,01%.
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