Another year of 20% growth for Ductil

Welding electrodes manufacturer Ductil Buzau saw 22% net profit growth in 2003, following similar growth in the year before. The company’s shares, listed on RASDAQ, have gained more than 60% over the last 12 months. Ductil’s 2003 profit amounted to 164bn ROL ($5 million), 30bn ROL higher than anticipated early in the year. Turnover rose 19% to 900bn ROL ($24 million) in spite of a stagnant welding equipment market in Romania. Ductil managed to compensate for the decline by boosting the share of exports in its total sales. Exports in the first half accounted for 46% of its sales compared with 35% in the same time last year. Ductil Buzau is 71% held by Air Liquide Welding, through Italian Fro Group. Ductil’s most important minority shareholder is Broadhurst Investment Fund (11%). ZF