The rest of the profit will go into the legal reserve and other distributions stipulated by law – exemption from the payment of reinvested profit. In 2015, the company returned to profit after five years of loss, and registered a turnover of RON199 million, up 28% from 2014.
2015 brought increases for most players on the Romanian dairy market, mainly due to the lowering of the value added tax on food items to 9% from 24%.
Covalact was acquired by SigmaBleyzer in 2007. Covalact group also includes company Lactate Harghita, which was acquired by SigmaBleyzer a year later.
SigmaBleyzer owns 95% of Covalact shares. Covalact, which places seventh among Romania’s largest dairy processors by turnover, has two dairy production units in Sfantu Gheorghe and Miercurea-Ciuc, according to latest data.