Arabesque’s revenue has dropped 12% in the past three years due to the overall decline of the construction industry, but sales doubled compared with 2005, when they stood at RON735 million.
The company intends to boost both sales and profit this year, after having posted RON44 million net profit in 2014, its highest in six years. This means its profit margin stood at almost 3%.
Growth forecasts are in line with those of several other companies in the construction sector, which see 2015 as the year when they should forget about the ‘decline’ word.
Arabesque expects sales growth of 5% to RON1.57 billion this year, and RON47.1 million net profit. The investment budget was set at RON8 million as in the past two years.
Arabesque’s business consists of construction supplies distribution and do-it-yourself operations. DIY is a market dominated by another Romanian business, Dedeman, held by the Pavel brothers in Bacau. (EUR1=RON4.4450)
(English version by Loredana Fratila-Cristescu