If the double-digit growth pace of the last few years continues, Arctic will overshoot the half a billion euro revenue mark in 2017, which is a first for the company. The business has been growing constantly since 2008, with the refrigerators and freezers made in Gaesti going to every part of the world. Exports generate about 70% to 80% of the sales of Arctic, ZF has found.
Arctic’s revenue includes both the production of the plant in Gaesti, Dambovita County (southern Romania) and the local sales of products made by the group’s plants in other countries. Turkey’s Arcelik, Arctic Gaesti’s owner makes only refrigerators and freezers in Gaesti but sells more types of home appliances in Romania, branded as Beko and Arctic, as well as electronics branded as Grundig.
The products made in Gaesti go to the local market and to about 60 other markets throughout the world.
Arctic also saw its net profit up, as well, to 171 million lei (EUR38 million) in 2016, an increase of 22%. The number of employees fell to fewer than 2,800 compared with almost 2,950 in 2015. The company has recently announced plans to continue hiring. Arctic officials did not return ZF’s calls for comment on the results by press time.
(English version by Loredana Fratila-Cristescu)