Den Braven entered the Romanian market in 2007, during the real estate boom, opening a factory in Buftea in a EUR10 million investment. Currently, almost half of the factory’s revenue comes from exports to Europe, Latin America (Brazil, Chile, Argentina), Middle East (Saudi Arabia, United Arab Emirates, Jordan) and northern Africa, according to the June edition of Business Construct magazine.
The Romanian market was very much affected by the financial crisis, the sales of construction materials falling 40% between 2008 and 2014, according to official data. The construction sector registered a slight increase during the last months, the first since the start of the crisis.
“The crisis settled down the construction market, but it is still hard to forecast an impressive growth in demand over the next period. (…) The need for housing still exists, but we should see how this translates into demand. I neither expect miracles nor an increase similar to that before 2008,“ added Miculescu.
Also, 2014 was a difficult year for the entire construction market, which was down almost 7%, according to the National Statistics Institute. This fall was mirrored in Den Braven’s sales, which decreased 10% compared with 2013.
The company forecasts 10% higher revenue in 2015, as the construction sector is expected to recover this year due to increasing orders during the first half of the year, Miculescu added.