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Business Summary: Cos Targoviste SA, formerly known as Mechel Targoviste SA, is a Romania-based company engaged in the steel industry. The Company’s portfolio includes a range of steel products, such as rolled, drawn and forged products. The Company supplies steel products for various industrial areas, including civil construction, machinery, rolling stock, chemical, mining and oil and gas sectors. In February 2013, Mechel OAO transferred shares of the Company to Invest Nikarom SRL. On February 22, 2013, Dambovita Court approved Cos Targoviste SA's application for insolvency. In March 2013, the Company entered the insolvency procedures and the Company's material preparation department resumed its activity.
Financial Summary: BRIEF: For the nine months ended 30 September 2019, Cos Targoviste SA revenues increased 42% to RON458M. Net loss increased from RON5.9M to RON32.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Labor & Related Expenses in SGA increase of 68% to RON53.3M (expense), Depreciation and Amortisation increase from RON2.6M to RON8.5M (expense).