The company’s turnover may continue its accelerated upward trend considering that investments in local production continued in 2022.
However, 2021 brought the first loss for the company, which is the first negative net result since 2005, as per the latest public data. Arctic officials did not provide details on the company’s RON73 million loss following net profit of RON104 million in 2020.
The investment program for 2022 included the finalization in the spring of 2022 of the second production line at the washing machines plant in Ulmi, which entailed an investment worth over EUR37.8 million. It also included the opening of a regional components hub in Arges County, also in the spring of 2022, that will supply 23 countries, according to company representatives.
For 2022, Arctic officials do not provide estimations, but say they are optimistic.
Arcelik Group operates locally the entire Arctic business through a single entity. Overal, the production contributes the most, respectively almost 70%, as per the latest data from Ziarul Financiar (ZF) daily. Arctic has been part of Arçelik Group since 2002.
Arcelik has 12 brands worldwide such as Arçelik, Beko, Grundig and Blomberg, subsidiaries across 49 countries and 28 plants across nine states. The Group had a consolidated turnover of EUR5 billion in 2020.