Romania, the second most profitable market for Sarantis in H1 | Progresiv

Greek group Sarantis, the producer of Elmiplant and Bioten cosmetics, reported EBIT profit (before interest and taxes) of 1.63 million euros in the first half of the year, marking an advance of 1.4% over the same period of last year. The Romanian subsidiary was the second most profitable market for the group after Greece, which reported a profit of 10.22 million euros, up by 15.31% over the first six months of 2016, according to the financial report published by the company.

In terms of sales, the manufacturer registered a turnover of 9.15 million euro in the first six months of the year, up by 13.7% over the same period in 2016.

At group level, the Greek cosmetics and home care products manufacturer and distributor reported sales of 168.1 million euros in the first semester, 5.3% higher than in the same period last year. The largest share of total incomes is recorded in Greece, which holds 38.95%, while revenues from the rest of the countries (Poland, Romania, Bulgaria, Serbia, Czech Republic, Hungary, Bosnia, Portugal and Macedonia) represent 61.05% of the turnover.

Sarantis has been present on the local market since 1996 and owns brands such as STR8, B.U, C-Thru, Fino and Elmiplant. The latter is a Romanian cosmetics brand created in 1992 by Elena and Ion Cremenescu, which was taken over in 2007 by the Greek producer for 6.5 million euros.