Carmistin Group reports a 40% increase in turnover for H1 2019
Carmistin Group, one of Romania’s largest integrated agri-food businesses, with operations starting in agriculture, animal feed and going from farm to fork, reports a turnover of EUR 92M for the first half of 2019. This represents a growth of 40% compared to the same period in 2018.
"The financial results for the first six months of this year are an important gauge for the business strategy adopted in the last couple of years. Investments made in modern technologies and a cost-efficient policy through optimizing internal processes have significantly impacted the profit of the company in a positive way", stated Iustin Paraschiv, President of the Group.
In his opinion, the Romanian market still offers the potential for growth and the Group's expansion plans will not stop here. "Our strategy is to develop all of our businesses -from agriculture to feed production and all the way to retail- so that in the next five years, we can substantially increase the value of the business,”, he added.
Last year, Carmistin Group reported a profit of EUR 18.5M according to auditors KPMG, which represents an increase of 47% year on year.
Over the last years, Carmistin invested to create eight new production units for poultry which sustained an increase in its annual slaughter capacity to 20 million chickens.
Carmistin Group is also one of the top three players on the pork market in Romania, having a capacity of 450.000 finishing pigs per year in 2019 and having ongoing investments in raising the capacity up to 650.000 finishing pigs till the end of 2021.
The Group also owns the largest cattle farm in Romania, with a capacity of 10,000 cattle per year and growing spaces that meet the highest European standards.Carmistin Group was founded in 2000 by the Paraschiv family and now stands out as one of the biggest players in the Romanian agri-food market due to its integrated business model. It is also one of the few holdings in the Romanian market to operate a supply chain that starts from agriculture, rearing animals, feed production through to meat processing and retail, throughout its own retail network of 150 stores and also in the large retail chains.
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