Energopetrol Campina turnover down 40%

Power equipment supplier Energopetrol Campina has posted a net turnover of 3.23 million euros (131 billion ROL) for 2004, 40% down on 2003 when they achieved 5.5 million euros (207 billion ROL). Recent years have seen Energopetrol”s turnover shrink, mainly due to falling demand from Petrom, Romania”s largest company. Despite turnover being down, the company”s profits rose significantly – from 1,000 euros (37 million ROL) in 2003 to 47,800 euros (1.9 billion ROL) in 2004. The higher level of profitability was mainly due to lower operating expenses, which last year were in the region of 3.37 million euros (136.7 billion ROL). The company started 2004 with losses due to the freezing of activity during the winter months, but managed to recover ground, ending 2004 with total debts of at 43.3 billion ROL and receivables from customers of 40.6 billion ROL. ZF