Baxi: turnover up 43% in 6 months

Central heating provider Baxi Romania, the local subsidiary of the British group Baxi, posted a 43% turnover increase in the first six months of the year against the same time last year, to 8.3 million RON (around 2.3 million euros). The company has budgeted a 30.3 million-RON (around 8.3 million-euro) turnover for this year, up 66% against last year, when Baxi saw a 16% decline. The turnover increase will be the result of a change in focus, from standard products to more effective products (condensing boilers on the residential, industrial and commercial segments) and to products based on renewable energy (solar panels). “This fresh focus comes in anticipation of the impact of the world energy crisis on local industry. We also target higher profit, since products in these categories have higher profit margins than standard products,” says Sever Scarlat, general manager of Baxi Romania. In fact, Baxi Romania increased its gross profit margin by 51% in the first half of the year.