Den Braven sales up 38 percent in Q1, predicts 15 percent turnover rise in 2010

Polyurethane foam manufacturer Den Braven Romania estimates a 15 percent increase in turnover for this year to EUR 35 million. Exports in January-April grew to EUR 4.68 million, compared to EUR 2.28 million in the same period of last year, while the company’s total sales reached EUR 9.25 million, 38.4 percent higher than in the same period of 2009.

“In the first four months we doubled our exports, and entered markets such as Vietnam, Argentina and Lithuania, so we are currently exporting to 32 countries. Sales in Romania grew by only 4 percent in the first four months, but in April this year we posted a 20 percent growth, and our estimates show we will reach a EUR 35 million turnover this year,” said Adrian State, general manager of Den Braven Romania.

He attributed the increase in sales mainly to an increase in the portfolio of clients, with 100 new buyers being added between January and April. According to State, the introduction of new products will also help the business grow.

Exports of polyurethane foams, the company’s main product, grew to EUR 4.1 million in the first four months of this year, with most sales coming from Austria, Italy and Poland. On the local market, sales of the same product grew 6 percent.

Total sales of Den Braven in Romania reached EUR 30.8 million in 2009 as sales of construction materials went down 30-50 percent, and the firm stopped delivering to companies that were not able to pay their bills on time.

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Den Braven opened a representative office in Romania in 1997, and in 2007 decided to invest over EUR 12 million in a local polyurethane foam plant, the group’s only one in Eastern Europe. An additional EUR 7 million investment was made in the site in 2008-2009.