EnglishTurnover of sugar producer "Agrana" Romania increased 3.2% last year, from 612 million lei in 2009 to 631.5 million lei. However, the losses have increased exponentially, from 1.7 million lei to 19.3 million lei, even though the company"s revenues increased 12.4%, to 675.4 million lei.
According to a press release by "Agrana", its plants of Buzău and Roman have processed 90,800 tons of raw sugar and 290,064 tons of sugar beet. The company has produced 124,802 tons of sugar, up from 119,710 tons in 2009. As for sales of sugar, they have increased 9.3%, from 224,617 tons of 245,480 tons. However, according to the communiqué, sales of sugar on the domestic market fell over 20% YOY, due to the credit and liquidity shortage.
During the reviewed period, the company"s debts increased from 276.1 million lei to 280 million lei, whereas receivables advanced from 51 million lei to 80 million lei.
The company is controlled by Agrana Zucker of Austria, which owns 91.12% of the shares, whereas the Authority for the Recovery of State Assets holds 4.05%.
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