It would be the first time that Biofarm has overshot the RON300 million threshold.
Furthermore, Biofarm targets growth in EBITDA (earnings before interest, taxes, depreciation, and amortization) similar with the revenue growth rate, of 16%, up to RON105 million. It also estimates a 6% increase in profit in 2023, up to RON75 million. Biofarm officials aim to double the company’s turnover over the next five years.
In 2021, Biofarm had inaugurated a new production unit, in capital city Bu¬charest too, but also kept the production facility it already had in the capital. The new production unit covers more than 10,000 square meters and has four manufacturing flows. The company’s investment stood at EUR35 million initially and later engulfed an additional EUR10 million.
Biofarm is 51% held by regional investment fund SIF Muntenia and 36.7% by SIF Banat-Crisana. The company has a market capitalization of RON648 million.