Strong RON worsens Samus Mex losses

The appreciation of the RON against the euro has increased the losses of furniture manufacturer Samus Mex Dej by five times in the first three quarters of this year, compared with the same period in 2004. The company made losses of more than 500,000 euros (1.8 million RON) against a turnover of more than 9 million euros, given that more than half of their output is exported. Turnover increased slightly over the first three quarters of the year, to 9.2 million euros (33.4 million RON), compared with some 9.1 million euros (some 37 million RON) in the same period last year. In 2004 Samus Mex posted 13 million euros in turnover. “The financial results of Samus Mex Dej in the third quarter of 2005 are lower than both the forecasts in the spending and revenue budget, and the results in the third quarter of 2004. The poor results were caused by the appreciation of the domestic currency against the European currency, by the low sales and production volume,” states the company”s report filed with RASDAQ. ZF