“The first quarter of this year is the strangest since I have been in the business, because the entire economic activity stopped suddenly, and sales dropped sharply,” the businessman said.
The enterprise estimated a 15 percent drop in turnover for this year, from the €214 mln posted at group level. “Our main goal this year is survival,” Toma added.
The firm estimates investments worth some €12 mln for this year, of which almost €6 mln to come from European funds. According to the company official, one third of the amount will be used for acquiring industrial machinery while the remainder will be directed towards agriculture.
Despite the plunging business, Toma said that, in an optimistic scenario, the company could post a net profit higher than last year’s level, due to lower expenses. “Paradoxically, we plan to register a higher profit in 2009, partly due to cutting costs by some €6 million,” the businessman said. Romet Buzau ended 2008 with a net income of €3 mln.
