ROMANIA: 5.7% rise in sales for Doncafé producer in H1 | Progresiv

Strauss Romania, producer of Amigo and Doncafé coffee, reported in the first half of the year sales of 133.7 million lei (128 million shekels), up by 5.7% compared to the same period last year, according to data published in the the company's latest financial report.

The sales advance was the result of higher sales volumes and prices, the more expensive coffee being the result of higher prices in the raw material, green coffee. Another positive factor mentioned by the company is the VAT reduction on food products, from 24% to 9% in June last year.

In the second quarter, Strauss Romania sales reported an advance of 8.8% compared to the second quarter of 2015, reaching 69 million lei (66 million shekels). In shekels, sales increased by 3.4% in the first six months and by 7.9% in the second quarter.

Overall, the group reported sales of about 1.65 billion shekels (456 million euros) in the first half, up by 13% over the same period last year. The value in lei of the financial indicators was calculated at an exchange rate of 1 shekel = 0.958 lei.

Israeli group Strauss Coffee is present in Romania since 1994 and has a production unit in Bucharest. In September 2014, Strauss completed the acquisition of instant coffee brand Amigo from Brazilian company Cia Iguacu de Café Soluvel for 20 million dollars. The main brand of the company remains Doncafé.

The company reported for 2015 a turnover of 280 million lei (63 mil. Euro), up by 16% over the previous year, according to mfinante.ro. The company's profit was about 9.2 million lei, up by 74% over the previous year.