The turnover decline was larger than a 10% contraction initially expected.
On the other hand, Strauss has budgeted a RON232 million turnover for this year, up 8% against the result reported last year. The company says it will reach 295 employees in 2011, 57 fewer than at the end of last year, with the producer operating personnel cuts in 2010 as well.
Israeli-held Strauss is the company which in 2008 conducted the biggest rebranding on the domestic coffee market, making a EUR6 million advertising budget available to turn the Elita brand into Doncafe. Also at the beginning of 2008, the company changed its name from Elite Romania to Strauss Romania.
Romania ranks 24th out of the European Union’s 27 countries in terms of annual consumption per capita, according to information from the International Coffee Organization.