September 19, 2018

Profitability of Romanian companies slumped 97.3 % by June 2012

Nikos Komninos, International Business executive director at ICAP Group, declared during Credit Risk Management Conference organized last week by ICAP Romania and CYCLE European that while the turnover of Romanian companies added 4.7 % to RON 400 billion (EUR 92 billion)  by June 2012 against the same period of the previous year, their gross profit fell by 97.3 % to RON 7.6 billion (EUR 1.7 billion). ICAP used data from 155,783 from Romanian companies in assessing their financial health. “In Romania, the ratings are skewed towards the lower end of the scale. This is worse than the situation in other countries,” said Komninos. According an ICAP Romania study, 32 % of Romanian companies have a low probability of default rates, while 20 % of Romanian companies have a 7 % default probability rate. The study further shows that one in two companies has a default probability of 14.5 %. Komninos suggested companies need to emphasize on cost reduction to improve their profitability.

Source: Business-Review (read more)

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