The Suceava-based company, due to enter the PET beer sector, is one of the few independent firms on the beer market.
Bermas Suceava this year plans to reach a net income worth 3.58 million RON (1.02 million euros calculated at an average exchange rate of 3.5 RON/EUR), only 0.5% higher compared with last year''s figure.
The company expects to derive a profit close to the level posted in 2005 because of the higher utilities expenses and investments it will undertake this year.
Starting this year, Bermas will also tackle the PET beer sector, in the wake of investment for a new production line.
Last year, the popular beer and especially the PET beer sectors posted the highest rate of growth. Bermas turnover is projected to rise by 19.7% this year, to a level of 38.05 million RON (10.8 million euros).
"We expect profit to advance at a slow pace, slower than sales, considering that rates for electrical power and water rose as early as the fourth quarter of last year. We also expect fuel prices to grow further this year, entailing higher expenditure for the company.
"We will also register expenses related to the investments we will begin in order to be able to stay on the market, especially in view of Romania''s accession to the EU. We also plan to enter the PET beer market and to this end we will invest around 5-6 million RON (1.4-1.7 million euros i.e.) in a PET production line," specified Constantin Gatej, general manager with Bermas.
The company has budgeted investments standing at 1.9 million euros for the following years, with almost half this sum being financed through loans. Bermas also intends to capitalise almost 1.29 million RON (over 0.3 million euros) of income derived last year in order to finance investments scheduled for this year.
The decision to operate the capital increase through the incorporation of these reserves will be submitted to shareholders for approval. In 2005, the company carried out investments worth almost 1 million euros to modernise technological flows related to beer production.
The company in 2005 derived a net income worth 3.56 million RON (0.98 million euros), slightly higher in RON, and turnover standing at 31.78 million RON (9.7m euros), 13% lower.
The sales decline was primarily due to the unfavourable weather last year, according to the company''s management.
Bermas last year sold around 280,000 hectolitres of beer, with the company''s management estimating a 2.4% market share countrywide.
In the county of Suceava, where the company''s production centre is located, the market share is thought to be around 45%.
For 2006, the company''s officials forecast Bermas will sell 325,000 hectolitres of beer. catalin.ciocan@zf.ro
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