The State Heritage Protocol Administration’s (RA-APPS) target for 2015 is to obtain 200 million lei from property sales, a higher amount than estimates made in recent years. However, RA-APPS has missed its proposed target every time in recent years, obtaining 3-5 times less money than expected, which meant that profit was invariably replaced by losses.
In 2014, the administration obtained only 75.8 million lei from property sales, despite setting a target of 190 million lei from organized auctions. At the end of the year, losses were 57.2 million lei, after 50 million lei were spent on salaries and 26.3 million lei were budgeted for the material base of representation and protocol.
This year, RA-APPS hopes for a gross profit of 1.6 million lei, given that the salary and bonus fund for employees will amount to 51 million lei, to which 566,000 lei will be added, money that will go to the management. In the last three years, the administration has been forced to downwardly revise its revenue estimates following a lack of bids in the organized auctions.
Source: Imobiliare.Net
Frequently Asked Questions
What is RA-APPS’s revenue target for 2015?
The State Heritage Protocol Administration aims to generate 200 million lei from property sales in 2015.
How did RA-APPS perform financially in 2014?
In 2014, the agency collected only 75.8 million lei from sales, resulting in a net loss of 57.2 million lei.
Why has RA-APPS struggled to meet its sales targets?
The primary reason for missing targets has been a consistent lack of bids during the organized real estate auctions.