Arctic posts 164m-euro turnover after nine months

Arctic, the leading producer of home appliances on the Romanian market, posted turnover worth 164 million euros in the first nine months of this year, up 20% against the same time last year, and forecasts business worth 217 million euros this year. The company sold 1.1 million home appliances in the first nine months of this year against the same time in 2006, of which 612,000 units were exported. “Exports increased by 17% in the first three quarters of this year. We estimate to reach around 808,000 units by the end of this year,” said Ugur Kayali, Arctic general manager. Domestically, Arctic has maintained a steady annual growth rate (8%) over the past three years. This year, the company forecasts domestic turnover worth 111 million euros. Arctic sold around 500,000 home appliances in the first nine months of the year, with refrigerators accounting for 50%. “Both exports and domestic sales, particularly the segment of refrigerating equipment, contributed to the company’s sales increase in 2007. The growth registered comes as a result of our long-term business plan,” said Kayali. The Arctic representative added that the market of CRT (cathode-ray tube) TV sets saw a reduction in terms of number of items against last year, because of less demand, through the TV sets market increased in terms of value, following improved LCD TV sales.