Business Forum • 26 February, 2025 at 11:32 AM
Abatorul Abatorul Peris and its subsidiaries, Cathedral Distribution and Policalita, recorded a significant increase in turnover in 2024, reaching more than RON 700 million, an increase of 12% compared to the previous year. The notable financial performance was accompanied by a considerable improvement in earnings before interest, taxes, depreciation and amortization (EBITDA) from negative RON 3.5 million to over RON 26 million (+850%), with the company managing to go from a net loss of RON 13.2 million in 2023 to a net profit estimated to exceed RON 4 million in 2024, representing an increase of 131%.
"We would like to appreciate the state's support to the Romanian pig industry, which has been heavily affected by African swine fever since 2017. This crisis had a devastating impact on domestic production, changing the structure of the market and increasing dependence on imports. The government's farm restocking programme has significantly contributed to the revitalization of the sector, facilitating increased local production and stabilizing live pig prices. In addition, we also welcome the support we received from Exim Banca Românească, which granted the company a working capital loan of RON 48 million, under the Ukraine state aid scheme. This financing was essential for the company to carry out its activities in optimal conditions and to maintain the supply chain," said Alin Zamfira, Chairman of the Board of Directors of Abatorul Peris SA.
Exim Banca Românească has implemented, based on the special mandate received from the Romanian State, the State Aid Scheme in the context of the economic crisis generated by Russia's aggression against Ukraine, under which large companies and SMEs were able to access state guarantees and subsidized interest loans.
"The flexibility and adaptability of Exim Banca Românească allow us to quickly implement complex financial solutions, so as to honor our promise to support Romanian companies, especially when they are going through less favorable contexts, such as pandemic or the conflict in Ukraine. This is why we are pleased every time we see that, through our actions, we are effectively contributing to the development of local businesses, as is the case with Abatorului Peris, a top player in the Romanian agri-food industry. This motivates us to continue to innovate, to come up with smart financial solutions for all entrepreneurs, so as to maintain our status as the preferred financial partner for business," said Traian Halalai, Executive Chairman of Exim Banca Românească.
As part of its growth strategy, in the first quarter of 2024, Abatorul Periș SA completed the acquisition of two specialized meat processing units - Cathedral Distribution SRL and Policalita SRL. These acquisitions are part of a strategic plan to diversify its product portfolio and expand its market presence, thus strengthening the company's position in the meat industry.
Another key factor in the company's recovery and development has been the support of its majority shareholder, Jabbar Kanani, who, through CCI Cardinal Equity SRL, has provided a 20 million RON financing. This capital infusion has enabled the company to support its development plans, optimize operational processes and improve its financial performance.
Thanks to its strategic location in the proximity of the largest consumer market in Romania - Bucharest and neighboring counties - as well as close to the distribution centers of major international retail chains, Abatorul Periș benefits from an optimized logistics chain. Combining this strategic location with modern technical facilities and compliance with the highest quality standards, the Peris Abattoir offers consumers the guarantee of freshness and superior quality of its products.
The Periș Group reaffirms its commitment to supply high quality products and to contribute to the sustainable development of the Romanian meat industry, through continuous investments, technological modernization and sustainable growth strategies. For the coming years, the Group will continue its annual investment plan of approximately RON 20 million for technological efficiency by modernizing equipment and increasing automation. The company is also pursuing the expansion of distribution channels for high quality products, an approach that will enable the Group to respond to changing market demands and to grow in the long term, given the current consumer trends in Romania.
The Periș Group consists of the entities Abatorul Periș SA and its subsidiaries Cathedral Distribution SRL and Policalita SRL. Abatorul Periș is the largest pork and pork processor in the south-east of the country and has one of the most modern production facilities in Niculești, Dâmbovița County, with a processing capacity of 500,000 head of pigs per year. Abatorul Periș also specializes in the production of Romanian ultra-fresh Romanian products.
Through the integration of the activities of its subsidiaries, Cathedral Distribution SRL and Policalita SRL, the Group offers Romanian consumers cooked, smoked and raw-dried meat products with a traditional quality specificity. The diversification of the product assortment is aimed at increasing the premium quality products through traditional pork smoking and roasting recipes, the introduction of premium cured beef and mutton products.