Greec office furniture maker Dromeas increased their turnover by 52.7% to € 13.8 mln. The loss before taxes of 2015 (€ -1.938 mln) turned into a profit (€ 0.91 mln) because of the strong sales. The company is satisfied with the strong results, and although the Greec economy remains uncertain in the near future, Dromeas is confident about the development of the company in the next years.
In a press release about the annual results Dromeas says:
” The continuity of the economic crisis to the country since 2009, which, in general,
aggravated the demand of furniture products in the internal market, specifically of the office furniture, didn’t show any substantial improvement during 2016 either. The political developments continue to intensify the insecurity and the anxiety in the internal market, and also the liquidity problems of the banking sector. This year, in relation to 2015, showed a slight progress on the image of the country, since the constant postponements of the 1st and 2nd evaluation didn’t help the total reverse of the climate and the stabilization of the economy for a perspective of growth.
Particularly sensitive to the economical insecurity are primarily the sectors of long lasting products, which results to further reduction of their working cycle. The only companies that despite the negative climate in the internal market achieve to increase their sales and improve their results are those that achieved to increase their export orientation, among which is our company.”
International tenders and focus on Central Europe
“Our company, even though it is the only operating industrial manufacturing unit of the sector in the country, suffers the consequences of the prolonged recession. Since 2009, after completing the last productive investment project, we turned to the external markets emphasizing on Central Europe. Thus, on this national and international context, given the circumstances of the sector, during the previous year, the company achieved a significant increase of its sales with relevant positive results before interest, taxed, depreciation and amortization, which allowed its servicing and offered the opportunity to be more optimistic about the future. This, along with the perspectives opened through the participation in big international tendering procedures, which awarded in 2015, the new tendering procedures that awarded in 2016 and through the development of business-to-business cooperation, which will shape a network of permanent and continuing marketing of DROMEAS products to the mature market of Central Europe and other, is very encouraging and the results will be visible in the near future.”
Cooperation Bisley and Dromeas
Recently Dromeas signed a partnership with Bisley, for the promotion in international markets of the “Cito” office product line manufactured by Dromeas. Other major clients of the company are the European Commission, the German Army and research institute CERN in Switzerland.
The full financial report of Dromeas can be found here. (PDF)