The publicly-traded Romanian shipbuilder Or\u015fova Shipyard, BVB ticker symbol SNO, announced last week the conclusion of a new contract worth EUR 4.05 million with the Rensen-Driessen Shipbuilding group from the Netherlands.\u00a0<\/p>\n
The agreement entails constructing and delivering a river vessel by March 31, 2025.<\/p>\n
Among the terms and payment conditions is an “advance payment of the contract value, based on a bank guarantee letter for the refund of the advance, with the remaining amount to be paid after the vessel arrives at the delivery location,\u201d according to Ziarul Financiar<\/a>.<\/p>\n The shipyard company is currently valued at approximately RON 80 million (EUR 16 million). As a result, the recently signed agreement represents about a quarter of the company’s capitalization, according to Bvb.ro data.<\/p>\n In Q1\/2024, the company had a turnover of RON 18.5 million, down 23% compared to the same period last year, and a net profit of RON 666,757, compared to a loss of RON 558,204 in Q1\/2023. Expenses decreased by 27.8% year-on-year to RON 17.8 million.\u00a0<\/p>\n Company stock has grown in value by 28.7% in 2024 and 46.6% over the last 12 months. The company is equally owned \u2013 47% each \u2013 by Longshield Investment Group (SIF4) and Sea Container Services Constan\u0163a.<\/p>\n