The publicly-traded Romanian shipbuilder Orşova Shipyard, BVB ticker symbol SNO, partially owned by Longshield Investment, recently secured two significant contracts with Rensen-Driessen Shipbuilding B.V. from the Netherlands.
As per the contracts, the Romanian shipyard will construct and deliver two river vessels with a combined value of EUR 8.58 million. The delivery dates are set for April 1 and August 1, 2026, at the Rotterdam port, according to Ziarul Financiar.
The value of the deal closely matches Orșova’s revenue for the first half of 2024, which saw a 24% increase year-on-year to RON 54.7 million. The company’s operating income also rose by 24.4% to RON 55 million, attributed largely to their production program in the first half of 2024.
Despite increased operational expenses of RON 49 million (+12.18% YoY), Orșova reported a significant rise in net profit, reaching RON 5 million compared to RON 506,386 in the first half of 2023. Orșova Shipyard’s stock saw a year-to-date growth of 42% driven by its recent performance.
Earlier in the summer, the shipyard signed an EUR 4 million contract with the same client for constructing and delivering a river vessel by March 31, 2025.
(Photo source: Bogdanel Vacarciuc | Dreamstime.com)
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