Mihai Rezeanu(39 yo) is a farmer in an atypical world: “Teleorman, that has Moromete as an example for all.”. With his brother Dănuț (41 yo) work 2.300 ha, of wich 15% are property of the company or of the family.

Of these, 500 ha are irrigated by an own system of headrace tunnel from the Danube, system equipped with o total of 720 meters of pivots. In 2017, besides the consecrated species of large culture, the two brothers introduced in the culture, beans and chickpeas.

The farmers detain authorized storage spaces of 15.000 tons in modern metallic silos, equipped with temperature monitoring systems and aeration system in recently renovated warehouses.

The big step in the storage domain made by Rezeanu was a transaction with the giant Cargill, a transfer of the Cargill business from Corabia, Olt, with a storage of 60.000 tons, with access to the railway.

This process was programed to be done by the end of last year, increasing trough this takeover the storage to 75.000 tons, an important one of the south of Romania. The takeover has been an enforcing on the line of business that they are already active in: “We are storers. We are manufacturers and processors of certified seeds.”

Mihai Rezeanu is the first farmer who, when asked about productions, answers with EBITDA: “Productions for us are not representative in the analysis of our work. In order to paint a picture of the company’s activity, we analyze other indicators than production per ha. We can tell you that Refdan Islaz recorded the following results in recent years: EBITDA 37%, Profit rate 10.5%, Capitalization 38%, Liquidity 153%”.

The EBITDA indicator is the abbreviation of Earnings Before Interest, Taxes, Depreciation and Amortization, translated to mean profit before interest, taxes, depreciation and amortization.

Perhaps leaning towards accounting figures is a professional flaw: “We both studied management. 15 years ago I saw the opportunities in agriculture. With effort, with work, patience, desire, with risk and luck, of course, we got here. We think it was all worth it. We have learned something, including from difficult years with drought or low prices. When we lost production, we learned the lesson… We wouldn’t see ourselves doing anything else, totally different from agriculture”.

Their business is a family business: “We are two brothers who took over the business from our parents and we hope to continue developing it together with our employees. Decisions are made by consensus”.

Refdan Com SRL was operating in 2017 with 30 employees and, by the end of last year, estimated an increase in their number to 44.

The value of the equipment park is approximately 1.8 million euros, most of the agricultural machines being purchased through loan and leasing contracts. The Rezeanu family also owns a fleet of trucks for grain transport. In 2017, Refdan Com SRL increased its harvesting capacity by purchasing a Claas Lexion 780 combine, worth 300,000 euros.

In 2018, the investment plans have equally bold plans and aim at further consolidation of activities: “We intend to increase the irrigated surface and perhaps go out to the Danube by purchasing a barge loading station”, explains Mihai Rezeanu.

Mihai Rezeanu talks about agriculture as an alert game: “This is precisely what agriculture is all about, challenges at every step. No year is like another. The biggest challenge is choosing the crop plan. What crop do we “bet” on every year? Depending on demand, forecast, etc. What area do we allocate to each crop, so as to maximize profit”.

The most important privilege of the farmer, in Mihai Rezeanu’s opinion, is “the chance to start over every year”.

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