Electromagnetica S.A. Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2018; Reports Impairment Charge for the First Quarter of 2018
Electromagnetica S.A. announced unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue was RON 79,440,482 against RON 53,617,794 a year ago. Profit before tax was RON 9,746,633 against loss of RON 6,478,406 a year ago. Profit for the period was RON 8,136,461 against loss of RON 6,817,449 a year ago. Company's turnover recorded a positive variation of 48% as compared to the same period of the last year, notably as a result of the development of the electricity supply business.
The company reported impairment charge of RON 2,602,940 for the first quarter of 2018 against RON 4,856,423 a year ago.