Unilever slips into the red

Unilever South Central Europe, the company that controls the operations of the Dero and Dove producer on eight Balkan markets from Bucharest, slipped into the red in 2009, the first year of decline for the company’s euro business, according to data in the company’s balance sheet.

The local subsidiary of the FMCG Anglo-Dutch giant reported a 750 million-RON (177 million-euro) turnover and a 12.6 million-RON (3 million-euro) loss in 2009, after posting a 3.4 million-RON (0.9 million-euro) profit in 2008.

Financial results of USCE (Unilever South Central Europe) deteriorated back in 2008 – a year when the company posted an almost ten times lower profit than the 2007 value.

However, in an interview given to ZF in November last year, three months from his appointment at the helm of USCE, Belgian Marc Desenfans anticipated a profitable 2009 for the company.

At present around 75% of USCE’s sales are made on the Romanian market, with the company having around 600 employees locally.

USCE’s RON-denominated turnover rose by 6% last year against 2008, but saw an around 9% decline in euros because of the depreciation of the Romanian currency against the euro.