Romanian cold cuts producer CrisTim sold less in the first quarter of the year, but managed to keep its turnover stable, compared to the same quarter of 2010. “In March, we had a drop of 15 percent in the sales volume, but the turnover was the same as in the similar period of 2011. It was a hard winter, people did not have money for consumption, as they had to pay their bills,” said Radu Timis, president and founder of CrisTim. Prices of raw materials were up 39 percent, while the increase in the final products' prices was of 15 percent.

The bad weather in January and February was another reason for the drop in sales volume during this period.

CrisTim posted a turnover of EUR 80 million in 2011, flat compared to 2010, and a profit before taxes (EBITDA) of EUR 10.5 million. Its target for this year is of EUR 100 million in turnover, on the back of exports to countries like Russia, China, South Korea. CrisTim aims to double the percentage of sales accounted for by exports, which are currently 15 percent of the total.

The Romanian producer wants to invest in milk factories and in agriculture equipment. “We want to buy land for agriculture. We are currently working 1,000 hectares of land, of which we own 200 hectares with the rest leased,” according to Radu Timis.

Cris-Tim produces cold cuts under several brands, among which are CrisTim, Alpinia, Matache Macelaru, EcoFerm and family Sunca. The group of companies includes a factory in Prahova county, Cristim Prodcom, which runs logistic for Impex Cris-Tim, the retail chain that sells its products. The producer started business in 1991 with one shop and opened its first factory in 1994. It is majority owned by Romanian businessman Radu Timis.

editor@romania-insider.com

(photo source: CrisTim)