Electroalfa, an important player in the Romanian electrical equipment and metal fabrication industry and a contractor in the energy sector, is preparing to list its shares on the Bucharest Stock Exchange, or BVB, in November, according to Economedia.
The company’s ticker will reportedly be EAI, and the IPO will be handled by broker Swiss Capital.
The group reported nearly RON 800 million (EUR 157 million) in revenues and RON 60 million (EUR 11.8 million) net profit last year, through its three divisions, one for electrical equipment, one for metal fabrication, and one specialized in turnkey energy projects like solar parks. The group also includes Electro Alfa Maintenance Services and Electro Alfa Management.
The electrical equipment division, Electro-Alfa International, is the main pillar of the business, accounting for nearly all of the group’s profit. The division also has 282 employees.
Electroalfa is currently executing contracts worth over EUR 145 million in sectors such as energy, transport, refining, residential, industrial, and irrigation. Projects include the production and delivery of electrical equipment, design works, installation, and integration into digital control and automation systems.
The group owns four factories in Botoșani, sales offices in the country, and design offices in several cities.
At the moment, the company is owned by businessman Gheorghe Ciubotaru (80%) and Electro Alfa Management (20%), which in turn is owned by Gheorghe Ciubotaru (52.5%), Manuel Gosav (23.5%), and eight other minor shareholders.
Electro-Alfa International ended 2024 with a turnover of over EUR 134 million, an increase of approximately 3.5 times compared to 2020, according to accounting reports prepared based on Romanian Accounting Standards.
The listing of Electroalfa would join a series of other companies planning to go public, including cold cuts producer Cris-Tim, which will conduct an initial public offering at the end of October or the beginning of November. Christian Tour, the EM Group, and the ITG Group are also preparing listing offers.
(Photo source: Electroalfa on Facebook)
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