THR Marea Neagra: profit down 25% in 2021
Turism, Hoteluri, Restaurante Marea Neagra recorded a preliminary net profit of RON 3.43 million last year, 25% below the previous year, as the growth in operating expenses exceeded that of revenues, according to the financial statements published on the Bucharest Stock Exchange (BVB) website.
Accommodation revenues were RON 25.33 million, more than double those of 2020, while public catering revenues amounted to RON 12.26 million, 105% higher than the previous year. Overall, THR Marea Neagra’s preliminary operating revenues for last year amounted to RON 49.95 million, 18% above the previous year—a dynamic that occurred given that in 2020, a significant part of tourism activity was blocked due to measures imposed by authorities to limit the spread of the Covid-19 pandemic.
On the other hand, operating expenses amounted to RON 48.04 million, 32% above those in 2020, as employee benefit expenses rose to RON 15.56 million, 31% higher than the previous year, while external service expenses amounted to RON 8.93 million, compared to RON 3.7 million in 2020.
Operating income was RON 1.91 million, more than three times lower than in 2020, to which was added a net financial gain of RON 2.79 million.
Frequently Asked Questions
What was THR Marea Neagra’s net profit in 2021?
The company recorded a preliminary net profit of RON 3.43 million, representing a 25% decrease compared to the previous year.
Why did the profit decrease despite higher revenues?
The decline was caused by operating expenses growing faster (32%) than operating revenues (18%), primarily driven by personnel costs and external services.
How did accommodation and catering revenues perform?
Accommodation revenues more than doubled to RON 25.33 million, and public catering revenues grew by 105% to RON 12.26 million compared to 2020.