“Overshooting the RON1 billion mark is something the company had expected since 2015 when it embarked upon an ambitious investment and development program. The investments made in 2015-2017 allowed us to boost production capacity and productivity. The improvement in productivity in turn helped us raise production volume,” Ioan Floria, chief executive of Aramis Invest, said.
The investments made without support from banks or state aid are showing in the results of the company held by entrepreneurs Vladimir Iacob and Marius Selescu, whose sales doubled in 2015-2017 after staying at around RON500 million for three years.
Aramis therefore becomes the first entrepreneurial furniture manufacturing business in Romania to overshoot the RON1 billion sales mark. Only nine entrepreneurial companies in the country achieved the same feat in 2016, according to the latest officially available data. The largest Romanian-held private company is do-it-yourself retailer Dedeman Bacau, but Aramis Invest is the entrepreneurial manufacturing business with the best results last year, according to ZF estimates.
Aramis has been the largest Romanian-held exporter since 2014, as well. Its main customer is IKEA.
“We expect RON1.1 billion revenue in 2018. The company has no significant investments planned for 2018-2019. This time will be dedicated to optimizing and improving efficiency of the investments made in the previous years.” (EUR1=RON4.6566)
(English version by Loredana Fratila-Cristescu)