European Food & Drinks group owned by Micula brothers generated turnover worth 882.5 million euros (2,945.28m RON) last year, up around 10% on 2006, according to the data released by Viorel Micula, chairman of European Drinks.
The group, which has almost 8,400 employees at present derived an operating income (EBITDA) worth 45m euros in 2007, around 10 million euros less than the value reached in the previous year.
Micula brothers have not released any turnover projections for this year, but should the companies' growth rates stay the same, turnover could top one billion euros in 2008.
Ioan and Viorel Micula last year assessed the group's assets at over 800 million euros. European Food and European Drinks own several plants that manufacture food products, alcoholic beverages, juices and mineral water in Bihor county, whilst the group's most valuable asset could be the brewery built on the industrial platform in Draganesti. The unit was evaluated at around 400 million euros in 2006 by one of largest domestic banks, according to previous statements made by Ioan Micula.
European Food entered the beer market in 2003 with the Buerger brand and the plant now has a capacity of 500 million litres per year.
The owners of the group launched operations in the food industry in the early '90s and at present operate investments in travel, media and real estate.
The group was developed by entering several market segments, and now boasts a portfolio that includes 150 products, and through exports.
European Food & Drinks sells products on 20 foreign markets, with sales expected to rise by 50% this year against 2007 and maintain the same growth rate.
The Micula brothers say partnerships with international networks have a major contribution in terms of export growth. European Food & Drinks shareholders have also received financing offers to expand from foreign markets, however they have put a 250m-euro loan approved by the EBRD on standby.
So far the brothers have invested around 800 million euros in the group, which is the largest player in the food industry, according to company estimates. From this sum, 335 million euros have been invested in the mineral water and soft drinks unit.
European Food & Drinks owns 26 bottling lines for mineral water, juices, beer and other alcoholic drinks, production facilities for sweets, sauces and pasta and a distribution firm - Transilvania General Import-Export, now the biggest company in the group in terms of turnover.
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