Altex business, down by some 50 pct in 2009

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Altex Co. turnover dropped last year by 49 percent, from 364 million euros in 2008 to 180 million euros in 2009 and for 2010 the management forecasts a zero growth, announced on Thursday Dan Ostahie, Altex Romania president, in a conference of presentation of the financial results of this electronics and home appliances retailer.
2009 turnover declined on all product segments sold by Altex.

In IT&C products sector, Altex scored in 2009 a 50 percent drop of its turnover, from 78 million euros in 2008 to 39 million euros in 2009, and the forecast for 2010 is of 40 million euros in this sector.
As regards the electronics sector, the decline was the same, of 50 percent, from 132 million euros 2008 turnover, to 66 million euros in 2009, going to attain a level of 66.5 million euros in 2010, meaning a growth of 1 percent.

In this field Altex officials appreciate that the product volume will rise in 2010, but the price erosion will continue to be pronounced. As such, the best sold products will be 32-40 inch LCDs, phenomenon due to the World Football Championship on June 11.
As for the large home appliances, the company turnover took a downturn of 44 percent, from 86 million euros in 2008 to 48 million euros in 2009, and this downward trend is set to continue in 2010 by four percent to 46 million euros.

A drop by 44 percent in turnover occurred in the field of small home appliances, from 48 million euros in 2008 to 27 million euros in 2009, and in 2010 its level is appreciated at 27.5 million euros, with a plus of two percent. 2009 EBITDA (operational profit) is of 5.5 million euros, and in 2010 it is estimated at 6 million euros.

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