Loading ...Profit of Romania’s branch of Austrian sugar producer Agrana jumped in the first nine months of the year by 72% from the similar period in 2007, to the value of 21.2 million RON (some 5.8 million euros), whereas the company’s turnover surged by 29%, to 433.6 million RON (approximately 119.1 million euros), according to the company data.
“We sold much and well, better than expected. This year, sugar stocks started to disappear and the deficit is already felt on the market”, Emilian Dobrescu, general representative of the Austrian company locally, was quoted as saying by Business Standard.
He also said that in the past six months sugar prices increased by approximately 10% on the background of a reduced offer on the market and did not exclude higher prices in the period to come.
He also said that in the past six months sugar prices increased by approximately 10% on the background of a reduced offer on the market and did not exclude higher prices in the period to come.
Price growth was also influenced by the depreciation of the national currency reported to euro, Dobrescu also said.
At the same time, company revenues advanced by 27%, up to 415.7 million RON (some 114.2 million euros) on the background of higher spending by 26%, to 391 million RON (some 107.4 million euros). In the first nine months the company processed 96,808 tons of sugar.
At the same time, company revenues advanced by 27%, up to 415.7 million RON (some 114.2 million euros) on the background of higher spending by 26%, to 391 million RON (some 107.4 million euros). In the first nine months the company processed 96,808 tons of sugar.
In the first half, the company posted a turnover of 249.36 million RON (approximately 68 million euros), a 41% hike as against the first six months of last year, a progress sustained by higher sales and prices. As well, over the mentioned period the profit dropped by 23.5%, to 15.47 million RON (some 4.6 million euros).
This year, Agrana forecasts an output up to 30,000 tons and some 130,000 tons raw sugar.
This year, Agrana forecasts an output up to 30,000 tons and some 130,000 tons raw sugar.
As for the period to come, Agrana might boost production either through an acquisition, or by taking over the quota of another producer.
Austrian Agrana Group is present on the Romanian market since 1998 and accounts for a market share of 33% locally.
Agrana Romania has a capital of 14.4 million RON (some 4 million euros), divided into 144.5 million shares, with a nominal value of 0.1 RON. The company is controlled in a proportion of 91.12 percent by Agrana Zucker from Austria and the Authority for State Assets Realization (AVAS) holds a participation of 4.05%.
Austrian Agrana Group is present on the Romanian market since 1998 and accounts for a market share of 33% locally.
Agrana Romania has a capital of 14.4 million RON (some 4 million euros), divided into 144.5 million shares, with a nominal value of 0.1 RON. The company is controlled in a proportion of 91.12 percent by Agrana Zucker from Austria and the Authority for State Assets Realization (AVAS) holds a participation of 4.05%.
The company owns 3 sugar factories in Buzau (east), Roman (north-east) and Tandarei (south), but the last one is in conservation.
Domestic sugar market has a value in excess of 250 million euros, the main players being Agrana, a Romanian-American joint capital company Lemarco and Oradea Sugar.
Domestic sugar market has a value in excess of 250 million euros, the main players being Agrana, a Romanian-American joint capital company Lemarco and Oradea Sugar.
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