Dairy and cheese manufacturing sector in Romania, 5% increase in 2019

A new study conducted by Coface on the Romanian sector of ”Dairy and Cheese Manufacturing” (NACE 1051) shows a positive evolution of revenues in 2019, +5% compared to 2018, with a slightly higher profitability.

The results are based on 494 companies that submitted their financial situation for 2019 (as of September 2020) and generated a consolidated turnover of RON 5.4 billion.

The weight of the cumulative market share held by the most important 10 players is 66%.

Approximately 34% of the companies registered a net loss at the end of 2019, 18% of the companies having recorded a loss higher than -20% and 10% of them a profit over 20%.

Most of the companies analyzed by Coface (62%) are classified as low risk companies.

The companies operating in this sector registered a current liquidity of 1.52 during 2019, the working capital being exposed to negative shocks, in a context of volatility (lower revenues or non-collection of receivables).

The average duration of debt collection in the analyzed sector decreased from 63 days, the level registered in 2015, to 48 days in 2019.

Production of milk and dairy products increased in 2019

According to INS data, the production of milk and dairy products increased in 2019, the largest increase being for drinking milk (8%).

For the period august 2019 – august 2020, in terms of the amount of milk collected for processing, the largest amount was recorded in June 2020, 108,979 tons.

Also, the quantity of raw milk imported by the processing units increased by 24,160 tons (+28.2%), in the period January-October 2020 compared to the same period in 2019.

In regard to dairy products obtained, for the same period, production increases were reported for: butter with 928 tons (+10.8%), drinking milk with 24,655 tons (+9.1%) and cheese with 1,286 tons (+1.6%).

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