Backing their way to the top

Panilino Ltd manufactures and markets a wide range of baked goods, including cakes, biscuits and roulades. When the company started out in 2003, it had to make do with rented or second-hand equipment. That was before it secured a loan worth EUR 50,000 from CB MOBIASBANCA – Groupe Societe Generale S.A., an EFSE partner lending institution. Panilino used the credit to purchase new baking machinery and modernise its facilities – making its business even more profitable than ever before.

Director Sergiu Guzun is just 26 years old and has managed Panilino from the very start. He attributes the company’s success to high-quality production, strategy and planning – as well as a healthy credit policy. In 2007, a loan from MOBIASBANCA helped Panilino increase its production capacity significantly. As a result, the bakery saw total sales rise by 30 per cent and net profit by 65 per cent in 2007. It also consolidated its market position. At present, Panilino offers more than 100 products to over 500 customers across Moldova, and has a vision to sell abroad. In addition, it will soon take out a further loan to finance the procurement of additional baking equipment.

“Without credit, we simply wouldn’t be where we are today. The loan from Mobiasbanca helped us improve sales and achieve a 25 per cent share in the domestic market for sweet goods.”

Since securing access to a reliable source of funding, Panilino has continued to develop by introducing new technologies and opening new branches. But the business maintains a strict sense of social responsibility despite its success. For example, it sends cakes and sweet treats to Moldovan orphanages on official holidays.

Panilino also offers its staff a variety of services, from training to free lunches. In fact, the company has lots of employees who previously worked abroad but find it more profitable to work at Panilino. In light of these factors and the availability of additional credit, Sergiu is convinced that Panilino has a promising future – regardless of the uncertain economic climate.