Arctic turnover down by 5%

2009-03-18



Arctic Gaesti, a producer of home appliances and part of the Turkish group Arcelik, posted sales revenues of €213m for 2008, down 5% on the 2007 figure. The figure was largely influenced by the decline in sales over the last two months of the year, a consequence of the economic crisis.
According to company representatives, in the last two months of 2008 the value of market decreased by 20%, after banks tightened lending policies.
In 2008 Arctic Gaesti’s sales volume decreased by 1%, in comparison with the previous year and fell to just over 1.5 million units, most of which were fridges. The company sold about 730,000 units on the domestic market with the remaining 790,000 sold on foreign markets. Company representatives highlight the good performance of the Beko brand – its market share in Romania grew from 2.8% to 4.7% last year.