The cumulated turnover of the 120 biggest listed companies that have so far published their financial results for the first quarter went up 26%, to 19.8 billion lei (EUR4.77 billion). Their cumulated profits doubled during this period, to RON2 billion (nearly EUR500 million).
One of the factors that contributed to the profit increases was the strengthening of the RON, which brought companies with long-term foreign currency-denominated debts significant gains from their value being revised at a lower exchange rate. Rompetrol Rafinare, Transelectrica and TMK Artrom Slatina are just a few of the companies that posted big incomes from financial operations.
Analysts say the rebound experienced in the first quarter confirms economic recovery. "The rebound experienced in the first quarter is not just a flash in the pan." The results announced by listed companies in the first quarter were partially influenced by the strengthening of the Romanian currency against the euro, but I saw companies reporting excellent results, with profit and turnover increases," said Mihai Căruntu, head of BCR's capital market research department.
The cumulated turnover of the 120 biggest listed companies that have so far published their financial results for the first quarter went up 26%, to 19.8 billion lei (EUR4.77 billion). Their cumulated profits doubled during this period, to RON2 billion (nearly EUR500 million).
One of the factors that contributed to the profit increases was the strengthening of the RON, which brought companies with long-term foreign currency-denominated debts significant gains from their value being revised at a lower exchange rate. Rompetrol Rafinare, Transelectrica and TMK Artrom Slatina are just a few of the companies that posted big incomes from financial operations.
Analysts say the rebound experienced in the first quarter confirms
