Gealan: 80m-euro turnover, less than budgeted

PVC trim manufacturer Gealan Romania, local subsidiary of German group Gealan, expects to have ended 2008 with a turnover increase of 5-10% against 2007, to over 80 million euros. “Gealan Romania budgeted a 20% turnover increase at the beginning of 2008. In the first six months of 2008 sales were in line with initial expectations, seeing a 25% rise. In the last few months of the year, however, the low demand for construction materials hurt our results, leaving us with significant declines. The 2008 balance sheet has yet to be finalised, but preliminary financial data indicate a rise of 5% to 10% against 2007, which was a record year,” said Aurel Vlaicu, executive manager of Gealan Romania. The company posted 75 million-euro sales in 2007.