The company’s turnover in the first quarter amounted to €13.8 million, 18 percent higher than in Q1 2008. Domestic sales rose to a three-year high of €11.13 million, 13.4 percent higher year-on-year, while exports rose 44 percent, to €2.65 million. Their ratio in terms of total turnover was 20 percent.
Antibiotice is controlled by the state and is to be privatized. This is why a cost-cutting program was implemented as of the second half of 2008, which includes lowering utility costs by up to 23 percent, freezing employment, and promoting personnel with good performance and higher education. Furthermore, the company’s staff was reduced by some 200 people, which led to a 7 percent drop in payroll expenses.
Company officials said they plan to attract €4.4 million in EU structural funds to build a new production unit, which is set to become operational in 2010.
