Acasă » General Interest » Chimcomplex: Sales of over 2.2 bln. lei, EBITDA of 480 mln. lei in 2022

Chimcomplex: Sales of over 2.2 bln. lei, EBITDA of 480 mln. lei in 2022

1 March 2023
General Interest
Bogdan Tudorache

Chimcomplex reports total revenues of 2,415,212 thousand lei, of which 2,385,750 thousand lei operating income.

The increase in utility purchase prices, well above those of direct competitors in the European Union, has had a significant impact on production costs, which has led to a lower profitability margin by 35%, compared to 2021.

Thus, between January and December 2022, Chimcomplex recorded sales of 2,259 million lei and revenues from operations (EBITDA) of 480 million lei. Compared to the same period of last year, the structure of the products in the turnover has also changed, increasing the share of caustic soda to 44%, from 20% in 2021.

The company has grown its portfolio of international customers, especially in the region, with exports accounting for 71% of the business plan. Europe is the market that consumes 92.45% of the products manufactured in Rm. Vâlcea and Onești. In the last 12 months, the company has maintained an elevated level of sales on the national and international markets, even though these have been invaded by products from the Asian area, much cheaper.

Although the financial performances are lower by 35%, Chimcomplex took the decision that starting June 2022 to increase by 24.3% the average gross monthly income offered to employees, to 7,150 lei, from 5,750 lei. Chimcomplex thus relies on increasing the company’s performance, by increasing and encouraging the performance of each employee and maintaining a lifestyle above the level of other guilds.

“Chimcomplex paid in 2022 to the Romanian state taxes, fees and contributions of approximately 140 million lei, up by 3% compared to 2021. In the next 5 years we intend to remain focused on investment projects that will lead to the processing of the country’s natural resources into products that are currently imported or that can be exported. The trade balance deficit was €34 billion in 2022, of which €14 billion is imports of chemicals. With the investments we have planned, we will significantly eliminate imports of chemicals of about EUR 5 billion and we will also create availabilities for export. At the same time, we are interested in technologies producing green hydrogen, green energy, in installations that absorb CO2, in the development of electricity and heat production in cogeneration and trigeneration plants,” said Ștefan Vuza, Chairman and CEO of Chimcomplex.

Chimcomplex diversified its portfolio of services in 2022 through the acquisition of Sistemplast S.A. Râmnicu Vâlcea, located on the Oltchim platform, specialized in providing integrated solutions for mechanics, design, construction, verification and monitoring of industrial works. At the same time, in 2021, Chimcomplex acquired a part of the assets of the CET Govora to build a cogeneration plant with a capacity of approximately 108 MW of electricity and 85 MW of thermal energy, to ensure the annual thermal energy needs of the municipality of Rm. Valcea.

“The 2022 results show that Chimcomplex’s integrated business map and the strategic plan for 2022-2030 were the keys to positive performance. Tomorrow’s world will become even more a world created by chemistry, as many of the climate-neutral solutions are based on chemistry, from wind turbines to electric vehicles,” added Mr. Vuza.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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