Fildas turnover up to 145m euros

Fildas group, owned by businesswoman Anca Vlad, in 2005 derived cumulated turnover worth 145 million euros, up 30% year-on-year.

“2005 was a very difficult year, with many legal changes, margin reductions and a financial crisis. On the other hand, the ascending trend was largely generated by the growing market and the mobilisation of the entire sales team,” stated Anca Vlad, head of Fildas.

Vlad says she received several bids for Fildas, but she does not plan to sell. Instead, she has retained an audit company to assess Fildas operations in the context of EU integration, a process that has not been finalised, yet.

The main company of the group, Fildas Trading, is a distributor of pharmaceuticals and last year posted revenues worth 105 million euros and profit of almost 4 million euros. The other companies of the group brought the rest of 40 million euros.

According to Anca Vlad, Fildas group exceeded the growth rate of the overall market by about 10%. For this year, the company official estimates the same growth pace will be maintained.

“Drug consumption in Romania is 10 times lower compared with the average European consumption. This can only add to market growth. Stagnation is ruled out. In terms of retail, we expect the market to grow by at least 15-20%,” Anca Vlad said.

Distribution currently accounts for 75% of the company”s turnover, but this percentage will grow to 85% over the next two years.

“We plan to develop the wholesale division, which is our core business. There is still significant room for growth, as large market portions are now unoccupied,” Vlad added.

On the drug distribution segment, the company owns, in line with its own estimates, a market share of approximately 10-11%. For 2006, a market share increase is projected, but this will depend on the “liberalisation of the market”.

The company currently has 1,350 employees and has earmarked investments worth more than four million euros for the current year.

As regards the pharmacy network, the company owns the Catena brand that it aims to expand through franchises.

“We want to grow through franchises. We have already tested the market with only 5 pharmacies in a franchise system, but we intend to reach a level of 300 units over the next three years,” the Fildas chairman also said.