Compa Sibiu to double turnover in 3 years

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Compa Sibiu (central Romania), a producer of automotive parts, has budgeted around 110-million euro turnover for this year, up 28.3% against 2007.
 
The company expects net profit to increase 38% this year, to around 3 million euros.
 
"The budgeted turnover increase is based on an increase in output on the domestic market and, in particular, an increase in exports. For the time being, we are working with our established clients, who place quite large orders with us," Ioan Deac, general manager of Compa Sibiu told Ziarul Financiar.
 
According to Deac, the company’s target is to double turnover in the coming three years, i.e. in the 2008-2010.
 
In 2007, Compa’s turnover climbed 32 percent to 90.3 million euros, 14 percent above the budgeted level, amid a 13-percent profit decline, to 2.3 million euros.
 
The increase in turnover registered in 2007 by the car part manufacturer primarily had to do with big orders placed by its main clients. The orders of Canadian industrial equipment supplier increased 46 percent last year, while their share in the company’s turnover climbed to 38 percent.
 
Orders from domestic clients continued to go down, so the share of foreign orders saw a significant increase, and reached 77 percent of the turnover last year. Orders for windscreen wipers from the German automotive parts manufacturer Bosch almost doubled last year, and accounted for almost a quarter of Compa’s turnover.
 
Compa Sibiu is held by the company’s employees through the Employees’ Asociation (PAS) that held 54.6 percent of the stake.
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