Omnilogic, one of the largest integrators and distributors of IT&C products on the Romanian market, registered revenues worth 71 million euros in the first half of this year, as the company resumed growth after its turnover had declined by over 15% in 2006, to almost 104 million euros.
Gabriel Marin, general manager of Omnilogic, who also controls the business, says the bulk of the turnover derived in the first half of the year came from clients in the financial & banking, telecom and retail sectors again.
"The turnover in the first six months of the year stands at around 71 million euros. The trend seen between the 2005 and 2006 is set to continue. The central public administration had some initiatives for the IT&C sector, but they were rather symbolic and came exclusively from external sources. The local public administration (which brought great advantages for Bucharest) was extremely active on the road and pavement maintenance sectors (undoubtedly the most important business in Romania after 2004) but were absolutely non-existent on the IT&C sector. Luckily we had the financial & banking, telecom and the retail sectors working strongly in our favour," Gabriel Marin explained to ZF.
"The figures do not include the revenues of the other firms where Omnilogic holds shares (software and services provider SoftNet Development & Consulting, and Datanet Systems, a provider of communications services), as Omnilogic has never publicly released its consolidated figures. These companies are both legally and managerially independent, with their own strategies and budgets, in which Omnilogic is just present as a portfolio investor," added Marin. "From the financial statements presented to us at the General Meetings of Shareholders, all companies in which Omnilogic is present as a portfolio investor are profitable and are seeing 15-25% turnover increases."
Marin also stated that operations handled in the first half were profitable, but did not provide any further details. "Of course (we made a profit) although it was a rather modest one. We not only experienced fierce competition from the domestic market, but also from abroad".
As for the company's revenues this year, Marin forecasts that they will stand at around 200 million euros.
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