2023 was the first year in the company’s 25-year history in which it slipped into the red, with a loss of RON217 million. By comparison, 2022 brought RON64 million profit for the company, triple against the previous year and the biggest ever.
Many grain farms were affected by drought and the evolution of grain prices.
Cerealcom Group consists of four companies that operate in southwestern Romania – Cerealcom Dolj, Oltyre Craiova, Cervina Segarcea, Redias Redea – and production covers 25,000 hectares, as per data on the company’s website.
Oltyre had a turnover of RON58 million in 2023, down 25% year-over-year, and twofold lower profit, of RON8 million, in line with publicly available data. Cervina reported revenue of RON45 million in 2023, down 45% year-over-year, and profit of nearly RON10 million, down 30% from 2022. Redias Redea posted a turnover of RON17.5 million in 2023, 1.8-fold lower than in 2022, and its profit shrank 7.5 times, down to RON1.3 million, as per publicly available data.