“2017 was a good year, with goals attained, growth in volume and revenue. We maintain the same organic growth policy in 2018, which does not entail significant growth, mainly relying on an improvement in the product portfolio, on a more efficient distribution and on well-devised marketing campaigns,” Grigore Horoi said.
The Agricola group has not completed calculating its 2017 figures yet, he explained.
The group posted 322 million lei (EUR69.5 million) revenue in the first half of last year, up 6%, driven by the sales of all its companies that make and sell Agricola-branded products, except for the operator of the retail chain, whose revenue dropped. The group, which includes Agricola International (the largest company of the group), Agricola Magazine SRL (Agricola store chain), Salbac (salami manufacturer), Europrod (ready meals) and Avicola Lumina (egg producer), posted RON677 million revenue in 2016, 3% higher than in 2015. The group sold its stake in two companies, Suinprod Siret and GA-Nutritie Animala in 2016.
Agricola Bacau group plans to invest about EUR10 million in its meat processing, ready meal and egg packaging plants this year, Grigore Horoi says.
“We will invest about EUR3.5 million in Agricola, EUR1 million in Avicola Lumina, about EUR4 million in Europrod and EUR1.5 million in Salbac. We are focusing on the existing brands for now, we want to grow and strengthen them.” (EUR1=RON4.6348)
(English version by Loredana Fratila-Cristescu)