Agrana lost over €1.3 mln in Q1

The local branch of Austrian sugar producer Agrana posted losses in excess of RON 5 million (€1.36 mln) in the first quarter of 2008, according to the quarterly report submitted to the electronic Rasdaq market.

Agrana income increased 42.6 percent in Q1. Last year, the company posted turnover of over €130 million, 27.5 percent lower than 2006 and a profit of €2.7 mln, 67.3 higher year-on-year.

The company’s operations in Romania are managed by Emilian Dobrescu, recently also appointed Country Manager for Bulgaria.

The Romanian sugar market is worth over €250 mln. Main producers are Agrana, Lemarco, Zaharul Corabia and Zaharul Oradea, controlled by German-French Cristal Diamant group.

Agrana Romania had a 45-50 percent market share last year and refined some 290,000 tons of sugar.

The company owns three sugar factories and starch production units. The annual Romanian sugar consumption exceeds 600,000 tons.