Kandia chocolate gets back to Julius Meinl still not profitable
Meinl Austrian family, owner of Julius Meinl coffee brand, took
over 1.5m-euro losses as it acquired Kandia chocolate producer.
Kandia-Excelent company last year reported 33.4m-euro turnover and
a negative result of 1.5m euros, in line with Trade Registry data.
In the 3 years in the hands of British Cadbury, Kandia business,
ranking second on the domestic chocolate market, remained flat and
did not manage to turn profitable, reporting cumulated losses of
almost 8m euros during 2007-2009 period. Last year, the financial
figure reported by the domestic company was similar with that of
2007 (-1.5m euros), the year when Julius Meinl sold Kandia-Excelent
to Cadbury for a record high sum for the confectionery market, 100m
euros. However, the company had around 200 employees less in late
2009 than at the moment it was sold. The reports the producer filed
with the Trade Registry show the company in 2009 reshuffled its
business. On the other hand, Kandia-Excelent turnover rose by 15%
in RON on a falling market, which could translate through expanding
market shares of brands part of the producer's portfolio.