When a few years ago the Northern Greek furniture manufacturing company Dromeas was furnishing the “Eleftherios Venizelos” airport with seating and other office items, it did not know that this would pave the way for furnishing waiting areas and other airports both in Greece and abroad.
As for abroad, the company’s furniture even reached as far as the Philippines, specifically to the Manila airport, which was built by a company of Dutch interests. An executive of the Dutch company, who had previously served as chief engineer at Hochtief, made the necessary recommendations, and thus the Greek company was awarded the airport furnishing project in 2003.
Airports in Egypt are also furnished with seating from the Serres-based company, as well as the intercity bus terminal in Riyadh, Saudi Arabia. However, the biggest project Dromeas is now preparing to undertake is the furnishing of European Union offices across Europe, with a total budget of €30.4 million. The Greek company won the relevant tender, which began at the end of 2007 and initially attracted interest from many strong European office furniture manufacturers. In the final stage, six companies remained, which in the summer of 2008 sent “samples” (desks, chairs, cabinets) to Brussels, where, after exhaustive quality and cost checks, the Greek company was finally selected as the lowest bidder.
The final signatures for the project award are expected to be signed any day now, barring any unforeseen circumstances.
A wager that must be won.
According to the company’s president, Mr. Athanasios Papapanagiotou, securing the project represents a very important wager that must be won—not only due to the size of the budget, but also because the company’s products will become known to a wide range of people who work in and visit the European Union offices in all the capitals of member states. Dromeas is currently one of the largest companies in the sector in Europe in terms of infrastructure, technology, facilities, productivity, and product quality, as can be seen from its penetration into demanding international markets. It was founded in 1979 and operates in the production and trade of office furniture, partition walls, and archiving systems. It is headquartered in the Industrial Area of Serres, with building facilities covering 55,000 sq.m. on a 115,000 sq.m. plot. It holds a series of quality certifications and was awarded by the European Union in 1999 for Occupational Health and Safety. The company employs 257 people, and its sales network includes 30 branded stores in major cities in Greece and the Balkans.
Business around the world.
Dromeas exports finished products and components to the U.K., Australia, Saudi Arabia, the United Arab Emirates, Egypt, Cyprus, and Russia. Among the company’s best customers abroad are the Greek banks Eurobank, Piraeus, and Emporiki, which operate in the countries of the Balkan Peninsula. Abroad, and specifically in the aluminum product sector, the company continues its collaboration with both MTU (Germany) and its U.S. subsidiary, as well as with Daimler (Mercedes – truck division), with the production partnership between the two scheduled to begin soon.
In addition to its export activity, Dromeas aims to strengthen its direct presence in the Southeast European furniture market, either through its own stores or through franchise locations. The company already operates its own store in Sofia, a franchise store in Albania, and is planning to open a showroom in Romania.
A “leap year” in 2008.
2008 was not a good year for the company’s financial results, as it also suffered the effects of the global financial crisis, recording a drop in sales, which in turn negatively affected its other financial figures. Overall, the group showed a 2.41% decrease in turnover (€18.992 million compared to €19.462 million), and the company itself showed a 2.64% drop (€18.728 million compared to €19.237 million) in 2008 compared to 2007.
The parent company’s pre-tax profits dropped by 43.95%, falling from €1.399 million in 2007 to €784,000 in the current fiscal year, impacted by increased general operating expenses, higher depreciation costs, increased financial expenses due to rising bank interest rates, and lower sales.
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