“In October, we experienced a decline in sales, compared to our expectations. There is likely to be a negative correction due to lower consumption,” he said. “We cannot estimate the specific evolution this year, because we do not know how the crisis is to affect Romania,” Ostahie added.
As for the evolution of the local household appliance market, Ostahie is pessimistic. Next year, “consumption will definitely decline, impacted by the international crisis. Consumption habits will change due to restrained spending. Clients will become more calculated and less willing to spend money on products they do not need badly,” he said.
In the first half of 2008, Altex registered a 47 percent increase year-on-year in turnover, up to €170 million. For 2008, the company estimates €400 million in business and EBITDA of 3 percent.
Altex’s main competitors on the local market are Domo and Flamingo.
