Romania’s Orșova Shipyard signs EUR 4 mln contract for river boat with Dutch company
<p>The publicly-traded Romanian shipbuilder Orșova Shipyard, BVB ticker symbol SNO, announced last week the conclusion of a new contract worth EUR 4.05 million with the Rensen-Driessen Shipbuilding group from the Netherlands. </p>
<p>The agreement entails constructing and delivering a river vessel by March 31, 2025.</p>
<p>Among the terms and payment conditions is an "advance payment of the contract value, based on a bank guarantee letter for the refund of the advance, with the remaining amount to be paid after the vessel arrives at the delivery location,” according to <a href="https://www.zf.ro/burse-fonduri-mutuale/bursa-santierul-naval-orsova-contract-de-4-mil-euro-cu-o-firma-22445340">Ziarul Financiar</a>.</p>
<p>The shipyard company is currently valued at approximately RON 80 million (EUR 16 million). As a result, the recently signed agreement represents about a quarter of the company's capitalization, according to Bvb.ro data.</p>
<p>In Q1/2024, the company had a turnover of RON 18.5 million, down 23% compared to the same period last year, and a net profit of RON 666,757, compared to a loss of RON 558,204 in Q1/2023. Expenses decreased by 27.8% year-on-year to RON 17.8 million. </p>
<p>Company stock has grown in value by 28.7% in 2024 and 46.6% over the last 12 months. The company is equally owned – 47% each – by Longshield Investment Group (SIF4) and Sea Container Services Constanța.</p>
<p><em><a href="mailto:radu@romania-insider.com">radu@romania-insider.com</a></em></p>
<p><em>(Photo source: Bogdanel Vacarciuc | <a href="https://www.dreamstime.com/">Dreamstime.com</a>)</em></p>