Romania’s Chimcomplex shares soar by 29% on WSE listing news

Romania’s Chimcomplex shares soar by 29% on WSE listing news
Chimcomplex shares soared by 29% on April 19.
By bne IntelliNews April 20, 2021

The shares of Romanian chemical group Chimcomplex (CHOB), controlled by local entrepreneur Stefan Vuza, soared by 29% on Monday, April 19, after the company announced it completed the first steps for a secondary listing on the Warsaw Stock Exchange.

The company’s market capitalisation thus reached over €223mn. Chimcomplex shares are up 92% since the beginning of this year.

The strong evolution was backed by positive financial results reported for 2020. The company obtained a net profit of €19.5mn last year, compared to losses of over €9mn in 2019, although its turnover declined by 8%, to €240mn. The operating profit (Ebitda) reached €50.7mn.

This year, Chimcomplex aims to increase its turnover by a third, to €320mn, and estimates a similar increase in Ebitda, to €67mn. The net profit should thus reach €22.8mn, according to the company’s 2021 budget.

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