H1 turnover up 18% in euros for Excelent

Chocolate producer Excelent SA Bucharest registered turnover worth 567 billion ROL (14.2 million euros) in the first half of this year, as compared to 441 billion ROL (12 million euros) in the same period last year. The increase is 18% in euros.

Net profit derived in the first six months of this year stood at about 46 billion ROL (1.15 million euros), lower in comparison to the net profit posted in the first half of last year, which amounted to 55 billion ROL (1.5 million euros). While the current result of this year was lower than last year’s, the financial result registered a slight increase.

“Chocolate products, which account for more than 50% of total turnover, have had a significant contribution to this increase in turnover,” the company stated. Excelent is listed on the Bucharest Stock Exchange, on the second tier.

Excelent SA has taken over the chocolate producer Kandia through a merger this year and has thus become the largest producer of chocolate in Romania, including in its portfolio chocolate brands such as Kandia and Laura chocolate tablets, Stil and Concerto chocolate candies, as well as Rom and Papi chocolate bars.

The company also produces Magura cakes, as well as toffees, nougat and dietetic sweets.

In the first half of this year, the company’s average number of employees stood at 840, as compared to 787 in the corresponding period of last year.

The main stakeholders of Excelent SA are Axis Investments Limited (88.8%), and Quatron International Ltd. (6.5%).

In the first six months of this year, Excelent made investments of around 7 billion ROL, of which 6.4 billion ROL were in tangible fixed assets and the rest in intangible fixed assets. The company earmarked 7% of turnover for advertising expenditure.

The share capital of Excelent stands at about 114 billion ROL, the nominal value per share being about 1,000 ROL.

For the year 2003, Excelent reported gross profit standing at 4 million euros (148 billion ROL) and turnover worth 26.2 million dollars (968.3 billion ROL). Meanwhile, Kandia derived net turnover worth 212.2 billion ROL (5.7 million euros) in 2003.

The chocolate market, put at 100-110 million dollars last year, is divided into chocolate tablets (with about 70% of the total), bars (20%) and pralines (10%).

Beside Excelent, the other major producers of chocolate in Romania are Kraft (Poiana), Supreme Chocolats (Primola, Novatini), and Heidi Chocolate Suisse (Heidi).