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Univer expects Ft 10 bln revenue in 2006, over target

Hungarian condiment maker Univer Zrt expects revenue of Ft 10 billion in 2006, some Ft 200 million over the target, CEO Károly Molitorisz said in Thursday's issue of business daily Napi Gazdaság.

In 2005, the company also exceeded its revenue target by Ft 200 million, closing the year with Ft 9.7 billion. Univer continues to concentrate on the domestic market, with export sales accounting for only Ft 1 billion of revenue, Molitorisz said. He added that the benefits of Hungary's EU accession started to be felt in 2006 as more multinationals and big retail chains came to the country, some of them bringing their production as well.
Univer's Hungarian Flavors line generates about Ft 4 billion of revenue a year, and its ketchup and mayonnaise products bring in about the same. Deliveries to McDonald's restaurants in Hungary account for about Ft 500 million in sales annually, and the rest of revenue comes from Univer's salad dressings and other products. Thanks to new packaging, sales of Univer's salad dressings have risen 60%, the CEO said. Univer has 80%-85% share of Hungary's paprika paste market and 36% of the mayonnaise market.