about us | newsletter | contact | archive | members area
Gabriel Pantelimon, Xerox Romania
"The company's strategy is to increase sales on the hardware segment"»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Government-run companies post aggregate 1994-2015 net losses of 66.5 billion RON

Romania's government-run companies have posted an aggregate net loss of 66.5 billion RON (14.7 billion Euro), 1994-2015, with 65.5 billion RON (14.5 billion Euro) in the first ten years of the analysis, according to data from National Bank of Romania, Agerpres news agency reads.

2017-04-03 13:01:52

"Despite sounder balance sheets, the financial reports of the government-run companies are negative overall (added net results of the years 1994-2015 reveal an aggregate net loss of 66.5 billion lei, with 65.5 billion lei amassed in the first ten years of the said period). There are two caveats in interpreting this aggregate result: first, the government-run companies are made up of diametrically opposed populations in terms of performance: there are companies reporting high profit figures, and then there are companies recording very high losses, which exceed the profits of the former," reads a document posted by the National Bank of Romania (BNR) on its website.

According to the same document, the top ten profitable government-run companies share between them 81 per cent of the net positive result.
"Similarly, the top 10 companies also share between them some 89 percent of the total losses. The government-run companies operated on a profit in just eight of the 22 years under consideration (the years 1994, 2005-2007, 2011 and 2013-2015). The ratio between the aggregate net profits and the aggregate losses in the period under consideration is 1 to 2," according to BNR.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  4301 Views
Daily Info
New Dacia Duster shown for the first time in Romania at Renault Day

The new Duster model has been shown for the first time in Romania on Sunday, on the occasion of the Renault Day, an event organized on Dacia's industrial platform in Mioveni t...

Corneliu Bodea was reappointed as president of Romanian Energy Center

Corneliu Bodea was reappointed as president of Romanian Energy Center (CRE) with 244 votes, being the only candidate. His new mandate will last until September 2020.

Zacaria develops the first private industrial park in Craiova

The construction works on the new business park in Craiova are ongoing and the first 10,000 sqm of industrial space will be delivered by the end of the year, the Romanian real...

FIC: High growth without infrastructure is not possible in the long run

The Foreign Investors Council (FIC) believes infrastructure is key for Romania's future development and it is also one of the three pillars Romania must focus on if it is to b...

Superbet bonds start trading on Bucharest Stock Exchange

Corporate bonds of Superbet Betting & Gaming S.A., one of the most important gambling operators in Romania, have started trading on the Alternative Trading System managed by B...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

Business Lease posts four million Euro turnover in the first semester of 2017

Business Lease, international company providing complete mobility solutions through Operational Leasing, Car Fleet Management and Rental in Romania, closes its first semest...

Chinese delegation seeks investment opportunities in Romania

Prime Minister Mihai Tudose discussed at the Victoria Governmental Palace on Thursday about the opportunities to invest in Romania with an official delegation of the People...

BVB second place in the region by number of IPOs in H1 2017

Bucharest Stock Exchange (BVB) is the second market in Central and Eastern Europe where initial public offers (IPOs) were successfully concluded in the second quarter of th...