Viessmann hopes for rebound in second half

Viessmann Romania, the domestic subsidiary of Germany’s Viessmann producer of apartment heating systems, expects turnover to go down by 25-30% this year, to 28-30m euros, in the context where sales of heating systems are set to plunge this year and see a 50-60% decline compared with 2008. “We’re coping with a arrearage on the market, also influenced by psychological issues, as end customers are now avoiding involvement in investments they cannot control (…),” said Olimpiu Achim, general manager of Viessmann Romania, the company that was in 2008 the first direct subsidiary in Romania opened by a foreign producer of heating systems. The company last year generated 40m-euro turnover, up 20% from the previous year. It saw turnover drop by 40% in the first half, but hopes to witness a rebound in the second half, when the season of heating systems starts.