Alser Forest, a company operating in the forestry sector listed its bonds worth EUR 1.5mn on the Bucharest Stock Exchange (BVB).
The company carried out in April 2021 a private placement of bonds worth EUR 1.5mn. The bond issue includes 15,000 corporate bonds with a nominal value of EUR 100/bond and an interest rate of 8%, with a maturity date by April 30th, 2024. The minimum subscription was EUR 5,000, and 64 investors subscribed in the private placement, according to a press release on Wednesday.
The bonds are traded on BVB under the ticker ALS24E. The listing was made with the support of Intercapital Invest, as Authorized Advisor.
“Alser Forest has chosen to finance through the capital market to increase its stocks of modern equipment and machinery for the forestry sector. This capital infusion had immediate effects on increasing sales and the company’s profitability,” said Alser Forest President, Albert Serban.
“Today, we have a turnover equal to that of 2020, and the net result of the company in the first half of 2021 exceeds by 26% the net result of the entire year 2020. The year 2021 has thus become the best in the company’s 13 years of existence in Romania,” added Serban.
Alser Forest ended 2020 with a turnover of RON 14.9mln, down from 2019 when it recorded a turnover of RON 20.2mln. The decrease was an effect of the Covid-19 pandemic, with customers being more cautious about investing and modernizing their equipment fleet.
The company’s profit for 2020 increased significantly, from RON 90,499 in 2019 to RON 960,190 in 2020.
According to the company’s calculations, at the end of 2021, the company will exceed RON 20mln in turnover, and the estimated profit will exceed RON 1.6mn. The estimated increases are based on optimizing operating expenses and concentrating sales on high-profit products.