12m euro sales for Elpreco in 2003

Construction materials producer Elpreco Craiova ended last year with 42bn ROL (1.19 million euro) net profit, up 75% from 2002. The 2003 turnover amounts to 450bn ROL (11.9 million euros), compared with 289bn ROL in 2002. Elpreco estimates to sell 560bn ROL’s worth this year. “The sales volume for Elpreco’s main products (…) rose by 37% if calculated in physical units and by 55% if calculated in terms of value,” the company announced. Elpreco Craiova makes ACC (autoclaved cellular concrete), as well the matching wrapping systems and accessories and paving systems. The products are sold throughout a national distribution network and through one company-held store. Elpreco has been trading on RASDAQ since the end of 1996. Its majority shareholder is Broadhurst Investments Ltd., which along with the affiliated people holds 61.3% in Elpreco, according to the latest RASDAQ filing. The fund increased its stake in Elpreco by more than 12% last month. At the same time, the company’s main minority shareholder, SIF Oltenia, sold approximately 10% of its Elpreco stake so that it now owns 10.6%. ZF