Growth which honours Almost Seven Decades of Existence
With a history of over six decades, seeing as it was established in 1955, Farmavet is one of the leading operators in the pharmaceutical industry in our country. In the fall of 2019, the China Central and Eastern Europe Investment Co-operation Fund II signed the transaction taking over the Farmavet Group. The Company went through considerable changes that supported its growth, and, as such, last year it enjoyed a 20% sales increase.
Farmavet has three local veterinary medicinal product and vaccine plants, a dry and green fodder plant, a distribution network, over 10 warehouses spread across the country and over 170 pharmacies. “The Farmavet Group has on average about 800 employees and collaborators a year, with annual salary costs of over RON 65M”, the Company's CEO, Irina Roșu (photo) told us.
The Manager of Farmavet says that all employees receive meal vouchers, as well as Christmas and Easter gift vouchers. “We cover the commute for our colleagues working at the production facilities in Filipeștii de Pădure. Between March of 2020 and June of 2021, in the context of the spread of COVID-19, the Company also added he settlement of the transport cost for employees picking up other colleagues in their private cars on their way to work, as a facility”, says Irina Roșu.
Moreover, all employees enjoy a preventive medical subscription as of this year. The subscription offers unlimited access to General and Internal Medicine for health checks, two services a year for the over 30 existing medical specialties and RON 300 a year for medical tests. The subscription also allows access to the Remote Medicine service on an unlimited basis for telephone consultations for over 20 medical specialties.
“Except for field, plant and warehouse activities, we offer the options of teleworking and a hybrid work system (for both home and the office) depending on the type of activity”, says Irina Roșu.
45 million EUR was the turnover of Farmavet last year
Investment in Future Leaders
The Manager of the Farmavet group says that “we are currently working on the implementation of an active learning platform, in order to be up to date with all the news from the soft skills curriculum, in parallel with technical and specialized training sessions. For the Company’s future leaders, we are in the process of purchasing the latest Leadership Development modules offered
by MIT Sloan. We are also preparing and carrying out technical training sessions, specific to our field of work, in which we also have reputable speakers from the academic environment as guests”.
The process of selecting future employees is a challenge for any company, and Farmavet is no exception. Irina Roșu says that, in order to identify people qualified in technical roles (such as veterinarians), they need to be resourceful and discover new ways to convince them to join the Company. “On the other hand, in the case of roles where there are interested applicants, during the recruitment process, we often face a lack of motivation and seriousness. To this end, we try to compress the recruitment stages as much as possible, specifically to keep applicants interested and to quickly secure the valuable candidates who fit our Company’s values”, as explained by Irina Roșu.
As regards the Company’s plans for this year, the Manager says that their set target is a 20% increase in turnover compared to last year and a doubling of the profitability. “2021 is the year of investment, and most of that focuses on intensifying the process of digitization and automation in all business segments (plants, warehouses, logistics), as well as the update and upgrade of all processes of quality assurance and control. This is the only way for us to pursue our vision of becoming the benchmark for the domestic veterinary medicine market and to stand by all our customers with top quality products and services which are both affordable, and easily accessible at national level”, Irina Roșu told us. (Vlad Alexandru)
65 million RON was the amount of the 2020 salary fund of Farmavet