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Polirom publishing house, valued at 25 million euros

The Polirom publishing house, one of the largest in Romania, with a 2008 business turnover estimated at 7.5 million euros , up from 5.8 million euros in 2007, has been valued at 25 million euros by its general manager Silviu Lupescu.

'A constant 25-30-percent growth in the turnover, keeping the lead position on the book market for three years, an offer of some 1,200 book titles and a portfolio that comprises Romanian and world famous writers such as Saramago, Nabokov, Hemingway, Lessing, Fowles, Rushdie and Salinger, plus an annual profit rate of 15-20 percent allow me to put the value of Polirom at over 20 million euros, probably in the region of 25 million euros,' Lupescu told daily Ziarul Financiar. He mentioned that there is no independent valuation of Polirom's market value.

According to Lupescu, Polirom publishes 600 book titles a year, 70 percent of which are new titles, in about 1.5 million copies, holding a market share of 12 percent. The publishing house is also managing the Cartea Romaneaca publishing house, the oldest local brand in existence specialising in publishing Romanian writers. It is also a promoter of niche literature, such as psychopathology and clinical pathology, European studies and international development.

'We have eight bookstores each operating under a Polirom franchise. We are also cooperating with 350 bookstores and wholesalers from Romania and Moldova and have recently entered cooperation with bookstores from Spain and Italy,' said Lupescu.

Polirom's sales in the year to end-July increased by 32-35 percent on diversified offer and large runs of up to 40,000 copies.

According to Lupescu, improvements in Romania's purchasing power have boosted sales, even if cultural products are last in the monthly consumption basket of Romanians. He said that book sales are likely to near 100 million euros in the next two-three years, as per capita book consumption in Romania is nearing European levels. 'The average growth rate in Europe over the past years was 5-7 percent a year, while in Romania it was ways ahead,' said Lupescu.

He also mentioned that Polirom is aiming to double its business turnover and increase its market share in the next two years by launching new collections and selling translation licences for works by Romanian writers. He added that such works have been translated in France, Germany, Italy, Spain, the Czech Republic, Hungary and the US over the past years.

The most important players on Romania's book market are the publishing houses Humanitas, Polirom, Corint, ALL, RAO, Nemira, Paralela 45, Teora and Curtea Veche.

Sursa: http://www.rompress.ro

Tags: million polirom euros publishing years market lupescu house percent

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