“The year 2015 will be good for Olympus. Our estimates point to EUR75 million revenue, 10% higher than last year, on an almost flat market,” Ilias Pliatsikas, general manager of the company, told ZF.
The company also expects an increase in profitability.
The result will help the dairy producer preserve its fourth position among the largest dairy businesses in Romania, behind Albalact, Danone and FrieslandCampina. FrieslandCampina posted EUR90 million consolidated revenue last year.
The Greek-held Olympus group has seen revenue grow constantly in the past few years and exports generate a significant share of that revenue, about 75%, according to the latest data available.
The dairy producer in Halchiu, Brasov County, stepped into the black last year, when it posted 448,000 lei (EUR101,000) profit, after the about RON5 million losses in the year before.
The local operations of Olympus took off in 2011 when the plant in Brasov was inaugurated, following an about EUR75 million investment. The group entered Romania in 1999 and at first had a production facility in Baraolt (Covasna County, central Romania).
The growth trend continued this year and the company posted 11% increase in revenue in the first half.
(English version by Loredana Fratila-Cristescu)