Two companies belonging to the SIF Transilvania portfolio, headquartered in Brasov, reported more than double profits at the 9-month mark, on growing business, at the end of a good season for Romanian tourism.
Turism Felix, a company operating 5 hotels in Baile Felix, recorded in the first 3 quarters of this year revenues totaling 60.77 million RON, 21.86% higher than the 49.87 million RON from the same period last year. In the same reporting interval, expenses increased by 8.13%, to 47.74 million RON.
Under these conditions, the operating profit rose to 13.03 million RON, an increase of 128.19% compared to the 5.71 million RON in the first 9 months of last year, and the net profit increased by 133.83%, to 12.44 million RON, from 5.32 million RON.
At the same time, the company Turism, Hoteluri, Restaurante Marea Neagra, also in the SIF Transilvania portfolio—which operates 24 hotel units in the resorts of Eforie Nord, Eforie Sud, Neptun, Venus, and Saturn—recorded in the first 3 quarters total operating revenues of 48.41 million RON, 33.91% higher than the 36.15 million RON.
During the same period, total operating expenses rose by 19.23%, to 36.14 million RON, from 30.31 million RON.
The operating result of the company in which SIF Transilvania holds a 77.71% stake in the share capital was 12.27 million RON, an increase of 110.46% compared to 5.83 million RON in the first 9 months of 2017.
Net profit increased by 111.84%, to 12.16 million RON, from 5.74 million RON.
Source: Profit
Frequently Asked Questions
Which companies reported record profit growth?
Turism Felix and THR Marea Neagra, both part of the SIF Transilvania portfolio, reported profits that more than doubled in the first nine months.
By how much did Turism Felix’s net profit increase?
Turism Felix’s net profit grew by 133.83%, reaching 12.44 million RON in the first three quarters of the year.
Where does THR Marea Neagra operate its hotel units?
THR Marea Neagra operates 24 hotel units across the resorts of Eforie Nord, Eforie Sud, Neptun, Venus, and Saturn.