The losses of Dafora Mediaș were 103 million lei (23.3 million euros) in 2013, 4.5 times higher than in 2012, and the operating income fell by 15%, to 185,2 million lei (41.9 million euros), according to a company document released on Bucharest Stock Exchange (BSE).

Operating expenses increased significantly, so Dafora went from a profit of 1.7 million lei in 2012 to an operating loss of 67.9 million lei (15.3 million euros). At the end of last year Dafora had debts of 379.5 million lei, 8.6% more than at the end of 2012, when the debt was 349.5 million lei.

The company announced late last year that has restructured all credit and leasing contracts by reducing the monthly payment obligations for a period of one year, while assuming the adoption of financial restructuring measures, says Mediafax news agency.

Dafora executes onshore drilling services for oil, gas and geothermal waters, and maintenance and transportation services for drilling equipment. Dafora shares ended Monday trading session down 1% at the price of 0.03 lei. According to the latest stock quotes, company has a capitalization of 30 million lei (6.7 million euros).