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Albalact (ALBZ), the largest dairy company in Romania with majority Romanian ownership and the second biggest player on the local dairy market, will debut on June 3, 2015, on the regulated market operated by the Bucharest Stock Exchange (BVB), after the transfer from the Rasdaq market.
BVB Board of Governors approved, on Thursday, May 28, Albalact’s request regarding listing on the regulated market.
Albalact’s debut on the regulated market will be market by the official opening of BVB’s trading session by the company’s management representatives. The event will be followed by a press conference at BVBs’ headquarters.
The company has a tradition of more than 40 years in the dairy business and today it produces dairy products of the finest quality in one of Central and Eastern Europe’s largest and most modern greenfield investments - the Oiejdea factory in the Alba district. The company also produces a diverse cheese range in the Raraul factory in Campulung Moldovenesc, which Albalact acquired in 2008. The Raraul company also has a long tradition in the white cheese and yellow cheese production.
Albalact brings today on the Romanian market over 140 dairy varieties under its four brand names - Zuzu, Zuzu Max, Fulga, Fruzu, Raraul, De Albalact and Poiana Florilor. Albalact has a rich dairy products portfolio, from fresh pasteurized and UHT milk, to plain yogurt, fruit yogurt, sour cream, butter, sana, sour milk, kefir, flavored milk for children, white cheese, fresh cow milk cheese, traditional kneaded cheese, yellow cheese, processed cheese.
Established in 1971 and transformed into a joint stock company in 1990, Albalact was privatized in 1999, Ciurtin family buying the major stake in the company. Today, the company has over 6,000 shareholders. Approximately 45% of the company’s shares are hold by Ciurtin family, and the investment fund RC2 has a 25% stake.
In the last 12 months, investors traded 32mn Albalact shares, for RON 8.7mn. In the same period of time, the share price rose by almost 50%, up to RON 0.3036/share. Calculated at the price recorded at end of Tursday, May 28, 2015, trading session, of RON 0.3036/share, Albalact has a market capitalization of almost RON 200mn (almost EUR 45mn).
Last year, Albalact invested EUR 8mn in modernizing and expending the production capacity of the Oiejdea factory. These investments are meant to support the increase the company’s profitability in the coming years and to consolidate its position on varied market segments.
After closing last year with a plus in turnover of 12%, up to RON 475mn (EUR 107mn), Albalact budgeted for 2015 a turnover of RON 508.5mn.
Bucharest Stock Exchange runs markets for shares, bonds and other instruments, through regulated platforms and alternative systems, and provides a wide range of services to participants of financial markets. Bucharest Stock Exchange is a public company, listed on its own market since 2010. For more information refer to www.bvb.ro.
