Cesarom turnover up to 27m euros

Cesarom Bucharest, the second-leading ceramic tile maker on the Romanian market made approximately 4 million-euro net profit in 2003, while turnover reached 27.2 million euros (1,023bn ROL), up 11% in euros from 2002, the preliminary data show.

Sales rose in response to the overall growth of the market. The plans of Austrian Lasselsberger Group to enter the 100m-euro Romanian tile market by taking over Sanex Cluj Napoca and Cesarom have already reached an advanced stage, with transactions expected to be concluded in the first half of this year, market sources say.

The top two players account for some 45%-50% of the domestic market and they also deal in sanitary ware.

“We managed to slightly exceed 1,000bn ROL in turnover. The growth above inflation compared with 2002 was of approximately 6%. The turnover budgeted for 2004 is 10% higher in ROL, given that we estimate the market to grow at the same pace,” Adriana Apostolache, economic manager of Cesarom Bucharest told Ziarul Financiar. The company posted 4.5 million-euro net profit, while turnover amounted to 24.5 million euros in 2002.

Cesarom is currently 98.67% held by Hungarian ceramic tile group Zalakeramia, with the remaining 1.33% owned by Cesarom employees.

Cesarom accounts for 23%-25% of the ceramic tile market, competing with Sanex, estimates based on market data show, while producer Mondial Lugoj accounts for some 10% and Delta Distribution, the leading importer controls 17%-18%. There are also two more small domestic producers, Roman Ceram and Romceram Chitila, as well as a series of importers.
adrian.mirsanu@zf.ro