M.J. Maillis Romania sees 24% growth

Packaging maker M.J. Maillis Romania estimates to sell 7.8 million euros’ worth this year, up 24% since 2001. The company’s turnover for the first nine months amounted to 5 million euros.
“The sales will increase even more in the last three months of the year and I think we’ll be on target. We are, after all, planning to have sales exceed 9.7 million euros next year,” Michalis Trakadas, M.J. Maillis Romania general manager told Ziarul Financiar.
The company, which is part of the Greek group M.J. Maillis, is the first and only foreign company listed on the Bucharest Stock Exchange. The listing was done by an IPO last year, which accounted for 20% increase in the share capital.
The offer was so successful that it allowed the company to raise 1.6 million euros, which it used to expand the packaging machine productive capacity. The packaging machines will actually be drive of the increase in M.J. Maillis Romania’s sales.
“Our development strategy focuses on the possibility to offer complex packaging solutions, including production of machinery,” Trakadas specified.
The company is planning to have its investments throughout 2002-2004 total $4.3 million, to be used for increasing the productive capacity.
“We are also planning to export more, which would boost our profitability,” Trakadas added.
M.J. Maillis Romania’s net profit amounted to 350,000 euros in the first nine months this year, up 3% since the same time in 2001. The company estimates to make 625,000 euros in full-year net profit.
M.J. Maillis posted 6.28 million euros in 2001 turnover and invested the 460,000 euro profit in opening a trading company in Yugoslavia. The new entity will be controlled by M.J. Maillis Romania.
M.J. Maillis Romania is the leader of the Romanian secondary packaging (such as sheets covering PET batches) market estimated at $20-$25 million. One of the major features of this market is that most of the players are only represented by dealers here, with the Greeks among the few companies actually producing in Romania.