“The sales declined (during lockdown i.e.) and the outlook until fall is much worse than last year,” the officials of the company held by entrepreneur Damian Mereu, told ZF when answering the questions for the yearbook.
Onesti-based Croco ended 2019 with RON170 million (EUR35.8 milion) revenue, an increase of 10% on 2018. Last year was its best in its more than 25-year history. Croco posted growth in revenue in each of the last 15 years and was one of the Romanian entrepreneurial businesses that grew even during the 2009 crisis. Its expectations of flat revenue are one of the first negative signals about the state of affairs in the food industry.
Croco makes crackers, cracker sticks, pretzels, Petit Beurre biscuits and biscuits with cream filling. It exports more than 20% of its production to over 30 countries.
(English version by Loredana Fratila-Cristescu)