Oltchim 3Q 2010 results

Energy and labor costs rose by 21% and respectively 31% to RON 67.5 mn and RON 32.4 mn. Third parties expenses came up by only 8% to RON 31.2 mn. Overall the company reported an operating loss of RON 2.6 mn, from a loss of RON 35 mn in 3Q 2009 and significantly better qoq when the loss reached RON 53 mn. Financial gains of RON 1.6 mn, mainly from the revaluation of the FX denominated debt, reduced the net loss to RON 1 mn, from 55 mn in the same period of 2009 and RON 125 mn in 2Q 2010.Over the first nine months of 2010, sales reached RON 909.1 mn, up 15% yoy and the net loss stood at RON 178.2 mn, flat yoy.

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