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Electroaparataj finished 2018 with losses of 345,611 lei, 4 times lower than in 2017

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Electroaparataj reported losses of 345,611 lei for 2018, about four times lower than in 2017, to which 1.31 million lei was added, according to preliminary financial data sent to Bucharest Stock Exchange on Tuesday.

The business figure of the company was 17.997 million lei, on the rise by 6.8%, compared to 2017. The overall incomes were 18.11 million lei (17.67 million lei in 2017), and expenses were 18.455 million lei (18,981 lei in 2018).

Electroaparataj was set up in 1948 as manufacturer of low tension commuting equipment. With a wide range of products developed by its own research-development department or produced under Stotz Kontact licence (Germany) and SACE (Italy), it becomes market leader in the 1960s.

In 1992 Electroaparataj became the most important local producer of household appliances and installations, and five year later developed its manufacture capacities and technologies, being a reference producer in Eastern Europe. The company’s majority shareholder is Broadhurts Investment fund, which owns 55.31% of the social capital.

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