Romania’s Agroserv Mariuta launches butter production line

The new production line has a total raw milk processing capacity of 40,500 litres/day, as its output will be sold on the retail market and supplied to the HORECA industry, the company said in a report filed to the Bucharest Stock Exchange.

The company added that the production equipment has also been tested for the production of a range of other creamy dairy products.

According to the report, butter accounts for 28% of Romania's dairy market. This segment is expected to generate over 1.5 billion euro in 2022.

In February, Agroserv Mariuta opened a new production unit using the proceeds of a 2020 bond issue via which it raised 3 million euro.

In August, Agroserv Mariuta carried out a capital increase, after listing on the Bucharest Stock Exchange in May.

According to a financial report published on the Bucharest Stock Exchange, the company recorded a net profit of 1.73 million lei ($378,000/350,000 euro) in 2021. In 2020, based on data supplied by the finance ministry, the company ended at breakeven.

Agroserv Mariuta was established in 1994 as a company active in the agricultural sector. In 2018, it set set up a 5 million euro dairy factory and launched the Laptaria cu Caimac brand.

The company is listed on the Bucharest Stock Exchange, AeRO, and has a market capitalisation of 85.166 million lei. Its shares traded up at 8.28 lei by 14:26 CET.

(1 euro = 4.94 Romanian lei)