The cumulated turnover of the 120biggest listed companies that have so far published their financialresults for the first quarter went up 26%, to 19.8 billion lei(EUR4.77 billion). Their cumulated profits doubled during thisperiod, to RON2 billion (nearly EUR500 million).
One of the factors thatcontributed to the profit increases was the strengthening of theRON, which brought companies with long-term foreigncurrency-denominated debts significant gains from their value beingrevised at a lower exchange rate. Rompetrol Rafinare,Transelectrica and TMK Artrom Slatina are just a few of thecompanies that posted big incomes from financial operations.
Analysts say the reboundexperienced in the first quarter confirms economic recovery. "Therebound experienced in the first quarter is not just a flash in thepan." The results announced by listed companies in the firstquarter were partially influenced by the strengthening of theRomanian currency against the euro, but I saw companies reportingexcellent results, with profit and turnover increases," said MihaiCăruntu, head of BCR's capital market research department.
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