Romanian white goods producer Arctic defies coronavirus crisis

Romanian appliance maker Arctic, controlled by Turkish group Arcelik, reported that its sales have continued to rise in almost all European markets despite the COVID-19 pandemic.

The company mainly produces refrigerators and washing machines.

However, company officials are reluctant to make estimates for this year, citing market uncertainties.

The evolution of sales on other markets than the local one is crucial, given that over 80% of the production of the two Arctic factories in Romania goes abroad.

"Naturally, the reduction of traffic in stores and the decrease in demand in the retail segment could hurt the entire industry (of household appliances - ed.) in the next period. However, the Arçelik group, despite facing the risks and uncertainty caused by COVID-19, has continued to increase its sales in almost all European markets to date," said the company's officials, quoted by Ziarul Financiar.

Last year, Arctic had a turnover of RON 2.5 bln (EUR 540 mln), almost 8% higher than in 2018.

(Photo courtesy of the company)