Its revenue stood at RON125 million at the end of March 2016, up 18.5% against the first quarter of 2015.
The variation of stocks of finished products and the products in process brought the company nearly RON2.23 million, versus a loss of RON1.7 million at the end of the first three months of the previous year. Costs with salaries and contributions rose 12% to RON12.5 million.
The company’s operating profit reached RON10.9 million in the first quarter, more than double compared with the result reported in the same interval in 2915. For 2016, the company targets a 2.7% higher turnover of nearly RON456 million.
In 2015, Albalact posted 8.9% higher revenue compared with 2014. According to the annual financial report, the company’s turnover stood at RON444 million, registering a profit of RON12.6 million. Its overall expenses reached nearly RON415 million.
End-January 2016, Albalact shareholders closed a takeover deal with French group Lactalis, which owns Lactalis Romania, Dorna Lactate, Dorna and Parmalat Romania.
Albalact is Romania’s largest dairy processor whose portfolio includes over 150 products sold under its five brands: Zuzu, Fulga, De Albalact, Raraul and Poiana Florilor.
Albalact’s shareholding structure includes Crisware Holdings, with a 26.85% stake, RC2, with a 25.44% stake, Croniar Holdings, with a 15.66% stake, and the remaining shares are distributed among other investors on the local capital market.