Luxten sees 22.6 million-euro net income

Turnover of the Luxten Lighting Company, one of the most profitable companies in Romania last year exceeded 100 million euros. The company posted net profit of 22.6 million euros (82 million RON) in 2005, 28% higher than in 2004. Its revenues rose by 18% to 104.3 million euros (378 million RON) last year. The company therefore achieved a net profit rate of almost 22%. The company representatives could not be reached for comment on the results yesterday. Luxten has budgeted turnover of approximately 92.2 million euros (115.3 million dollars, at an average exchange rate of 1.25 dollars/euro) for 2006, down 11% from last year. The company estimates this year”s gross profit to stand at 22.3 million euros (27.9 million dollars), according to the data published in the Official Gazette. Equity capital stood at over 95 million euros (350 million RON) last year, while debts were worth 32 million euros (119 million RON). Luxten Lighting conducts its business through four divisions: metering equipment (AEM Timisoara), lighting products (Luxten Bucharest), public lighting (PLD) and electricity supplying (ETD). The public lighting division is one of the most important divisions for Luxten, as it generates the largest volume of total turnover. The company is contracted until 2018 with the Bucharest City Hall, supplying and maintaining lighting in the Capital. The contract is estimated at 11 million dollars (some 8.8 million euros). ZF