Fornetti Romania, based in Timisoara and one of the main producers of frozen pastries, generated 30% higher turnover in the first 10 months of this year against the same period last year, to 26.1m euros (88m RON).

"The main factors behind the 30% increase are the positive dynamics of sales and the diversification of available products," stated Reka Boer, deputy general manager of Fornetti Romania. This year, company officials expect turnover to hit 28m euros, whilst in December a 10% sales advance against the monthly average is forecast.

In parallel, the producer, which owns the most extensive franchise network in Romania, has currently reached 655 stores, above the yearend target, whilst Fornetti officials estimate the company will eventually hold 670 stores in early 2008.

In 2008, Fornetti plans to open another 130 stores and reach 800 units. "In terms of investments, a budget of around 3m euros has been earmarked.

Investments will primarily target the expansion of storage capacities, the modernisation of production activities and an increased shipping capacity," explained Boer.

In 2006, Fornetti Romania derived turnover worth 22.5m euros (77.6m RON) and net income worth above 3.4m euros (12.3m RON). For this year, company representatives forecast turnover worth 28m euros.

Fornetti Romania plans to finalise a new warehouse this year, in Bragadiru, near Bucharest, and also build a microbiological and physical-chemical test laboratory.

According to company representatives, Fornetti Romania accounts for over 60% of the value of the Romanian market of frozen pastries. In 2006, Fornetti stores sold around 15,700 tonnes of pastries, up 22% against the previous year.

Fornetti Romania was set up in Timisoara in 2001, as a partner of Hungarian-based Fornetti Kft.

Fornetti Romania

Generated 30% higher turn