Avicola Iasi poultry producer makes 6.9 mln euros in H1 business

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Poultry meat producer Avicola based in Iasi (eastern Romania), owned by Romanian businessman Gigi Becali, reported 24.78 million lei (6.9 million euros) in business made in the first half-year, up from 16.5 million lei (4.58 million euros) in the same period a year ago, shows a company release to the Bucharest Stock Exchange.
 
The revenues made by Avicola Iasi climbed by 26% to 49.86 million lei (13.86 million euros) from the first half of 2007, when they stood at 39.53 million lei (11 million euros).The Iasi-based company’s profit went up by 85% to 1.19 million lei (330,000 euros) compared to H1 of 2007, when it stood at 646,095 lei (180,000 euros), shows the company’s halfyearly report. The company’s share capital amounts to 29.46 million lei (8.18 million euros) and it is divided into 11,785,414 shares carrying a par value of 2.5 lei (some 0.7 euros).
 
The share capital was increased in last December by more than 15.6 million lei (4.4 million euros), with 99.9% of this amount being put by majority shareholder Becali, by having conversed debts representing investments made within the firm. Following this move, Becali’s shareholding has reached 85%, with the other significant shareholders being the State Assets Realization Authority (AVAS), which controls a 9.5% stake and Financial Investment Company (SIF) Moldova with 3.37%.
 
The Romanian poultry meat market is put by experts at some 1 billion euros, being dominated by two big domestic producers – Transavia Alba-Iulia and Agricola International Bacau; other significant players include Lebanese-owned Agroli Group based at Crevedia (near Bucharest) and Agrisol International based at Boldesti Scaeni, southern Romania. Exports account for merely 5% of the domestic chicken meat output.
 
The Romanian chicken meat consumption is 2 times lower than in Western Europe and 3 times smaller than in the United States, while 45% of the demand is provided by imports.
According to the market players, a Romanian from the urban area eats 31 kg of chicken meat a year, which is over three times higher than in 2000, when it was 9 kg. The egg consumption stands at 235 eggs per capita, show figures supplied by the Union of the Romanian Poultry Breeders.
 
Union chairman Ilie Van told the Jurnalul National daily that 2007 was the first year to have seen a drop in the chicken meat imports, with the trend having continued this year too. According to data supplied by the Agriculture Ministry, Romania in 2006 imported 160,163 tonnes of chicken meat, and it imported 128, tonnes in 2007. One of the main reasons for such drop was the very accession of Romania to the European Union, which has brought about tougher trade barriers to the non-EU states.
 
“After the EU entry, the U.S. chicken was no longer able to enter the Romania market under the previous conditions. We used to import before for some 300 dollars a tonne and sell for 2,000 euros, with very high profit resulting. Now we make just 1,000 euros”, Van explained.
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