IPEC (Întreprinderea de Porţelan Elena Covaciu), owned by the Covaciu family, one of IKEA’s main suppliers on the local market, estimates that it will end the current year with a turnover of approximately 137.5 million lei (27.6 million euro), down from last year, when the company had a turnover of 143.4 million lei (29 million euro), according to public data.

IPEC ended 2023 with a net profit of almost 4 million lei (892,000 euro), 2.4 times higher than the previous year, when the company had a net profit of 1.68 million lei (341,000 euro), according to ZF calculations based on data from the Ministry of Finance. The Alba Iulia porcelain manufacturer reached an average number of 518 employees last year.

“This year, in our field of activity, sales decreased by approximately 30%, also due to the fact that there were quite a few insolvency applications. In 2024, we hired 80 people, and for next year we expect to hire another 50 people. We also want to put another 50 industrial robots into operation,” Cristian Covaciu, co-founder and shareholder of IPEC, told ZF Transilvania.

Source: ZF