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A 6% drop in the main joinery manufacturers’ revenues
English Section Publicat de AG&F 22 Mar 2012 08:00
The latest data, extracted from the study called „INFO-Joinery market, analysis of the years 2010-2011 and estimations for 2012-2013”, carried out by the Fereastra magazine specialized department, shows the way in which the main 573 companies involved in the manufacture and mounting of windows, doors and/ or curtain walls were influenced by the specific economic conditions of the second year of recession. Thus, we need to mention from the very beginning that, since the previous report carried out by the Fereastra magazine, the market structure has undergone significant variations. Basically, the representatives of approximately 53 companies included in the previous list (which included data on 605 producers and 21 companies specialized in mounting) entered insolvency or could not be contacted. At the same time, if we consider the information included in the national database of sector companies, for the year 2008, at the end of 2011 approximately 200 joinery manufacturers reorganized their businesses, suspending them for an undefined duration; despite all that though, we witnessed the emergence of new economic agents whose main activity was represented by window manufacture.
 
As a first conclusion, we notice that the analyzed companies’ revenues (expressed in the European currency) dropped in 2010 by 6% as against 2009, when a total turnover of EUR 320.1 million was recorded. The regress followed another contraction of 28% in 2009, as against the reference level from the last year of economic growth as, at that moment, respondent companies recorded EUR 442.6 million. If we consider a higher sales drop rate for the entire sector in the recession period of 2009 and 2010 (down to an overall level of -60%, according to the estimations of the Employers’ Association of Insulating Joinery Manufacturers - PPTT), it can be noticed that companies included in the analysis managed to better face this difficult timeframe. Out of the total 573 manufacturers, approximately 17.68% represent economic agents established in the Bucharest - Ilfov area, namely a number of 96 companies. In 2010, these companies reached a EUR 48.13 million turnover, representing almost 16% of the total volume recorded by companies included in the study (EUR 299.7 million).
The Bucharest - Ilfov area continues to be an attraction for many manufacturers
In order to compare the insulating joinery market from various country areas (similarly to the analysis published in January last year) five study areas were used, divided based on the geographical criterion, starting from the new number of inhabitants announced in the release on the provisional results of the 2011 Population and Housing Census (RPL), issued by the Central Commission for Population and Housing Census on 2 February 2012. We need to mention in this sense that, out of the general list of 573 companies, the commission finally selected 530 companies for which complete data is available, including in terms of the turnover segmented according to their main and secondary activities. Thus, it was concluded that the area made up of Bucharest and the Ilfov county (2.04 million inhabitants) continued to be atypical through its massive concentration of manufacturers - 94 companies, while 115 companies operate in the Western area (4.27 million inhabitants), including 10 counties: Alba, Arad, Bihor, Caras-Severin, Cluj, Hunedoara, Maramures, Satu Mare, Salaj, Timis. The central area (4.39 million inhabitants) also includes 10 counties: Arges, Bistrita-Nasaud, Brasov, Covasna, Dâmbovita, Harghita, Mures, Prahova, Sibiu, Vâlcea, with 112 operating companies. Most specialized companies (142 economic agents) operate in the country’s Eastern area (with 4.72 million inhabitants in 10 counties: Bacau, Botosani, Braila, Buzau, Galati, Iasi, Neamt, Suceava, Vaslui and Vrancea), and the 3.62 million inhabitants from the South (10 counties: Calarasi, Constanta, Dolj, Giurgiu, Gorj, Ialomita, Mehedinti, Olt, Teleorman and Tulcea) benefit from products promoted by 67 companies. As against the previous year, in 2010 the number of companies specialized in joinery manufacture grew in the Eastern area, in Bucharest - Ilfov and in the South, stayed relatively constant in the Center and dropped in the West. However, the regional share did not record significant changes as against the previous studies, indicating a relatively constant situation between 2008 and 2010. Also, in 2011 less window manufacturers stayed operational in the counties Ialomita, Mehedinti, Giurgiu, Dâmbovita and Tulcea, and in the capital city and the counties Constanta, Ilfov, Iasi, Brasov and Mures, specialized companies are still strongly present, a high number of economic agents being constant. Basically, during the recession period, the number of joinery companies dropped in all areas, and those which managed to survive on the market faced an activity regress and/ or a reorientation towards other segments. However, when the situation restores, holders of national sales networks could mainly focus on counties where a low number of respondents were recorded, as in those areas, the competition exercised by local producers did not intensify, as they have limited options to ensure an adequate coverage of potential demand. For instance, for a population of 1.48 million persons (from Ialomita, Mehedinti, Giurgiu, Dâmbovita and Tulcea) there are only 12 joinery manufacturers (out of those having provided complete data), of which four companies in Dâmbovita, with sales corresponding to over 0.5 million inhabitants in this county.
The situation of sales in each region
In order to analyze the situation of sales per region, as well as the turnover evolution during the reference timeframe, producers had to be divided per geographical region of operation, and an average had to be set for the amounts earmarked by beneficiaries to joinery acquisition. Just like between 2008-2009, in 2010 companies from Central and Western Romania recorded the highest levels of sales countrywide, while manufacturers from Bucharest - Ilfov managed to stabilize their revenues. Basically, the amounts of sales (expressed in EUR) dropped in 2010 by only 6% countrywide, deliveries from the West being defined by the most significant decline (-14%). Furthermore, an accentuated drop of revenues was also faced by companies from the South (-11%), while the central area recorded the only increase (+4%), which also implied a modification of their contribution to the entire local market revenues (approximately a third of the total joinery sales). Companies from the Moldavian counties (included in the Eastern area) faced a 6% depreciation, and in terms of value, they totalled almost the same sales as companies from the Capital city, considering that the Moldavian population is more than double the number of inhabitants from Bucharest - Ilfov. The weakest activity continues to be that of companies from the South, where, for a population of 3.62 million inhabitants, joinery to the value of EUR 35.51 million was sold in 2010, unlike the central part of the country, where windows, doors and curtain facades to the value of EUR 94.57 million were recorded for the 4.39 million inhabitants. As for the share of sales in the analyzed timeframe, the most dynamic were companies from the central part of the country. Manufacturers in this area considerably increased their participation share in total deliveries, from approximately 28% between 2008-2009 to 32% in 2010. Although companies from West Romania still hold a value advantage as against companies from other regions and rank second in the top chart (EUR 71.74 million in 2010), their sales share dropped as against the previous years (down to 24% of the total). In fact, these companies are rather focused on exports and, ever since 2008, respondents from the Western counties turned out to be more cautious in terms of declaring their development pace.
 
Article published in the March 2012 issue of the TOP-FEREASTRA Magazine. For detailed information click here!
 
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