“4Q profitability declined on the rising utilities prices. This hurt the entire 2021 profitability and this is why there was a 4% profit decrease,” stated Luchi Georgescu, Meda Prod 93 owner.
The plant in 2021 generated RON31.7 million profit, down 4% on the year.
Meda Prod 98 has almost 700 employees and produces cold cuts in the Bucharest plant built in 1998. The company’s products are found in most hypermarkets.
“For this year we projected 6% higher turnover, but I do not believe sales and profitability can rise in the context of soaring energy and gas prices,” added Luchi Georgescu.
Meda Prod 98 continued to invest in development during the pandemic.
(English version by Catalina Apostoiu)