“The 2012 budget has been completed and we also have a ‘tentative budget’ for the next four years. The stability of the exchange rate, no changes of the current taxes, excise duties, VAT, as well as a modest economic rebound were the premise we started from (…) We do not have several budgets, but make budget adjustments every quarter depending on the progression of the market,” Furir said.
The company has 40 spirits and wine brands in its portfolio. The main whisky brands it sells in Romania are Chivas Regal (super premium), Ballentine’s, Jameson (premium), Queen Anne, Canadian Special Old and MacNairs (mainstream). Its vodka brands include Exquisit (superpremium), Absolut (premium), Wyborowa and Borzoi (mainstream).
The boss of Pernod Ricard Romania, whose sales reached 104.3 million lei (EUR24 million) last year, says he has no plans for portfolio expansion or acquisitions next year, and only seeks to consolidate the current position by investments in the existing portfolio.
“I see a year [2012] with many challenges, with a volatile economy, hard to anticipate. The progress of the countries in the EU will have a major impact on the performance of Romanian economy. I for one believe in a modest economic growth that should allow for a slight growth of our business.”
Pernod Ricard expects about 8% to 10% growth this year, considering performance has fluctuated from one quarter to the next.
“Consumers, although still cautious, have become more confident hence a higher appetite for spending. (…) The policy to keep prices constant was also a positive factor for sales,” Tudor Furir said.
(English version by Loredana Fratila-Cristescu)