Tnuva cuts losses

Tnuva Romania dairy producer, local subsidiary of Israeli company of the same name, has cut its losses by 25% last year, from 104.6 RON (28.4 million euros) in 2008 to around 78 million RON (18.5 million euros) after making around 250 people redundant and cutting distribution costs.
“In 2009 Tnuva adjusted its strategy to cut losses and boost its EBITDA. This was reflected both in its brand strategy and throughout the entire organisation, and translated into cost cuts across the company, mainly in distribution. In 2009 we cut losses by around 25% against 2008,” said Adriana Ionescu, marketing manager of Tnuva Romania. The dairy producer last year posted an 89.9 million-RON (21.2 million-euro) turnover, up by less than 1% in RON (a 12% decline in euros), compared with figures recorded two years ago, when the company had an 89.1 million-RON (24.1 million-euro) turnover.
According to ZF calculations, Tnuva Romania made around 250 people redundant and currently has around 300 employees.