The plant went from losses of EUR2.4 million in 2012 to profit worth EUR5.2 million last year, according to Finance Ministry data.
Philips bought the Orastie plant in 2009 from Italy’s Saeco. In 2009, the unit had 300 employees, losses of EUR4.4 million and EUR21.5 million in revenue.
2013 was the best year in the history of the plant that makes espresso machines exported on major European markets. Sogeco was last year positioned 75th in exporters’ ranking, but came second in the electrical home appliances industry, after Arctic Gaesti.
The sales increase also led to new job creation, so that the plant ended 2013 with an average number of 700 employees, almost 200 people more than in 2012.
The Dutch group also has import and distribution activities in Romania, carried out through Philips Romania. The company, with just 70 employees, generated revenue of RON295 million (EUR66 million) last year, from RON200 million the year before.
Low salaries and highly-skilled workforce have turned Romania in a major player in home appliances production.
(English version by Catalina Apostoiu)