Business Forum • 29 February, 2024 at 8:45 PM
ROCA Industry, the first industrial holding in Romania, specialized in construction materials, owned by ROCA Investments, recorded a cumulative turnover of RON 553.8 million, according to the preliminary annual report for 2023. Cumulative revenues at the holding level are up by 8.24% compared to the previous year, both as a result of the evolution of sales in certain segments and of a major transformational process applied at the level of the companies in the holding, which included both investments and a complex strategy for operational efficiency and brand development of the portfolio companies.
For 2023, the cumulative operating profit for directly productive companies is worth RON 32 million, with a margin of 5.8% of the turnover, fuelled by the higher sales of certain companies, but with a pressure on applied commercial margins and company acquisitions made in 2022 and 2023 (impact in consolidated figures depending on the time of acquisition).
ROCA Industry also announces March 11th as the date for the admission of the holding to trading on the main market of the Bucharest Stock Exchange, this representing a major moment in the company's evolution. The admission to the BVB regulated market gives the industrial holding access to a wider range of investors, including institutional ones, which also represents the beginning of a new stage of development for the evolution of the industrial sector in Romania.
"For ROCA Industry, 2023 was the year of fulfilling the assumed statements. We set out to complete 3 transactions and successfully completed the acquisitions of Electroplast, Iranga and Workshop Doors. We also intended carry out a capital increase and achieved the largest share capital increase on the Romanian market in the entire year 2023. In addition, we promised the transition to the main market of the Stock Exchange, a process prepared since the previous year and which will take place in the coming days, " said Ionuț Bindea, CEO of ROCA Industry.
The holding ended 2023 with two completed acquisitions - Iranga Technologijos, through BICO Industries, a company directly owned by the holding, and the acquisition of Electroplast, one of the largest manufacturers of low-voltage copper and aluminum electrical cables. Also, the previous year was marked by advanced negotiations for the acquisition of the Workshop Doors, a process completed in February 2024. In addition, the holding's share capital was increased to RON 248.7 million, through a two-stage process.
"The preliminary results from 2023 highlight the development potential of Romanian industry through access to new sources of private capital and by accelerating Romania's economic growth, especially in the industrial sector. In addition, the listing of ROCA Industry on the BVB main market starting March 11th opens up new opportunities of solid development for the holding and for the portfolio companies as well, preparing us for the results we set out to achieve in 2024. At the same time, this year it was also a moment of consolidation of an extremely solid foundation, " added Ionuț Bindea, CEO of ROCA Industry.
2023 was also dedicated to the consolidation and continuous improvement of the ROCA Industry holding company. The transformational process promoted by ROCA Industry and implemented at the level of portfolio companies includes the creation of strong teams, operational optimization, development of strong brands, implementation of policies or transfer of know-how between companies, seen as a cyclical process involving considerable initial investment, followed by confirmation of results.
ROCA Industry implements a business model through which it invests, as a majority shareholder, in medium-sized potential companies that do not have easy access to public capital and are less accessible to institutional investors, integrating them through a process of growth and efficiency, in a performing holding structure.
ROCA Industry is the industrial holding company owned in majority by ROCA Investments, the most dynamic private equity company from Romania. The holding owns, directly and indirectly, a number of 9 companies - performers in the sectors specific activity: BICO Industries (the first and the largest national producer of glass fiber mesh and the only one producer autochthonous glass fiber fittings), EVOLOR (one of the biggest players from the paint and varnish production industry ), ECO EURO DOORS (the largest Romanian producer of doors for residential constructions), WORKSHOP DOORS (the second largest producer of doors intended for residential constructions), DIAL (manufacturer of metal wire products), ELECTROPLAST (one from the leading electric cable manufacturers), as well as glass fiber producers Terra, Europlas and Iranga, through BICO Industries.