Scholarship. Comvex begins a process of analyzing some development projects, after…

The board of directors of Comvex (stock symbol CMVX), the largest port operator in Constanta, decided on April 23 to start a process of analyzing some strategic options in relation to the company’s development projects – one of the main beneficiaries of goods traffic from the Black Sea port, a direct effect of the Russian-Ukrainian war.

The development projects would be carried out “in the form permitted by law, including but not limited to bank financing, issuing shares or bonds, borrowing from shareholders, attracting a strategic investor, concluding partnerships regarding certain parts of the activity The Company, in order to identify the most advantageous method to implement the Company’s medium- and long-term development plans and increase its value by strengthening its position on the market, in the context of the expansion of Comvex activity against the background of the increase in cargo traffic through the port of Constanța”, according to BVB .

Also today, Comvex announced its financial results for last year. Net profit reached 189.7 million lei on December 31, 2023, up 82% compared to 2022. Revenues totaled 459 million, plus 18.3%, while expenses decreased by 10.3 % to 236.4 million lei.

During the general meeting of shareholders, it was decided that the company will grant dividends of 125 million lei from last year’s profit, i.e. a gross dividend of 10.7241 lei per share, i.e. a yield of 10.3% based on the current price from the Stock Exchange. Payment will be made on June 21.

Comvex has four significant shareholders, the largest of which is Solidmet, a company registered in Bucharest, with 30.7% of the capital. Liberty Holdco Galati & Skopje Limited, a group registered in London, owns 28% of the shares. Next are Ruxandra-Ioana Nicola and Anca Mihaela Drăgoi, with packages of 17.6% each.

CMVX shares are up by 5% this year and 136% in the last 12 months, on a turnover of 7.7 million lei. The market value of the company reaches 1.2 billion lei.