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Dacia: Turnover up 10.1 pc in 2008

The turnover of automaker Automobile Dacia was up 10.1 per cent last year, compared to that in 2007, to RON 7.64 bln, or EUR 2.07 bln, yet the profit halved to RON 22 M, EUR 60.28 M, according to a financial report by the company, Mediafax reports. Calculated against the average exchange rates announced by the National bank of Romania (BNR) for 2007 and 2008, the turnover stood flat at EUR 2.07 bln. The company's overall spending rose 22.1 per cent in 2008, from RON 6.66 bln, or nearly EUR 2 bln, in 2007, to RON 8.14 bl, or EUR 2.21 bln.

During the interval examined, Automobile Dacia posted a 16.5 per cent rise in earnings, from RON 7.2 bln, or EUR 2.15 bln, in 2007, to RON 8.4 bln, or EUR 2.28 bln, last year. A portion of the profit made by the company last year will cover the losses registered in previous years, for the legal reserve and employee participation in profit. Therefore, RON 110.16 M of the RON 222 M profit will go into recovering losses, and the legal reserve will come to RON 15.95 M. Also, RON 9.59 M will be allotted to employee participation in profit. The non-distributed profit, RON 86.31 M, will be carried forward.

Last year, Automobile Dacia sales totaled RON 5.63 bln, up 10.5 per cent from 2007's, when deliveries came to RON 5.09 bln. Also, spare part sales increased 3.9 per cent, from RON 1.54 bln in 2007, to RON 1.61 bln. In terms of sales on geographical areas, Dacia earned RON 4.1 bln from Romanian sales, slightly up, 0.5 per cent, from RON 4 bln in 2007. On the other hand, export sales climbed 23.9 per cent, from RON 2.85 bln in 2007, to RON 3.53 bln last year.

Dacia holds that, if need be, the financial assistance from the Renault Group and Romanian banks will be enough to allow the company to carry on its operations and adjust its debts, without substantial sales of assets. Automobile Dacia reported for 2008 an amount of less-an-year payable debts of RON 1.12 bln, down 36.1 per cent from those amassed a year earlier (RON 1.74 bln in 2007).

 

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Tags: dacia sales profit turnover bnr

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