Major companies on Bucharest Stock Exchange bet on rebound in 2010

Petroleum company OMV Petrom (SNP), national grid company Transelectrica (TEL), and aluminium smelter Alro Slatina (ALR), three of the biggest ten companies on the Bucharest Stock Exchange, have budgeted higher business this year, expecting the economy to rebound.
OMV Petrom anticipates turnover growth by 9% to 14 billion RON (3.41 billion euros at an exchange rate of 4.1 RON/EUR), although estimating 4% decline in its petroleum and gas production and 7% decline in the sales of fuels. It expects the barrel price to be 60 to 80 dollars, while the petrol price has reached record high levels over the last few months.
Transelectrica’s budget provides for a 8% increase in operating revenues, to 2.71 billion RON (661 million euros), yet analysts say that the company’s estimates are conservative and take into account a stagnation in the amount of power transmitted, given that an increase is expected in this department.
Alro Slatina anticipates 30% turnover growth, as both aluminium price and production are expected to increase.