Loading ...Cefin Commercial Vehicles, division of Cefin holding which deals with the import of IVECO commercial vehicles and the distribution of trucks ended the first half of 2008 with a 6-percent rise in sales as against the same period one year ago.
After a rising demand for commercial vehicles in Q1, the market relaxed and then strengthened in May. June compensated, however, in terms of demands and deliveries to the final customer, the company registering rises in sales in most segments of vehicles.
According to general manager Emilian Nahorniac, Cefin Commercial Vehicles delivered in H1 as many as 1,388 new commercial vehicles, plus 200 semi trailers and 200 second hand vehicles.
For the second half of the year, the manager of the division of commercial vehicles estimates a recovery in demand so that in total, in 2008 the deliveries are expected to go up 7-10% as against 2007.
Agroexpert Capital, expert in farm, equipment of Cefin Group estimates the turnover will exceed expectations of 7 million euros.
The farm equipment division of Cefin sold all the combine harvesters ordered in the first half of the year, at present the activity focusing on the storage of mostly ordered tractors.
The farm equipment division of Cefin sold all the combine harvesters ordered in the first half of the year, at present the activity focusing on the storage of mostly ordered tractors.
Cefin Holding, specialized supplier of integrated services in the transport field estimates a turnover worth 406 million euros in 2008 as against 274.5 million euros next year.
According to the strategy for 2008-2010, the turnover will increase to 507 million euros in 2009 and to 609 million euros in 2010, whereas the volume of investments will maintain a share of 5% compared to turnover.
The holding aims to increase the earnings before interest and taxes (EBIT) from 3.9% in 2007 to 4.2% in 2008 and 4.5% in the next years.
Cefin Holding started its activity in Romania in 1995, as dealer for the utility vehicles and trucks of Italian maker IVECO SpA and it subsequently extended to Bulgaria and Hungary and at present it is included in Top 100 of Romanian private companies.
The group’s investments will stand at 16 million euros in 2008 and will reach 30 million euros in 2010.
The holding has 7 divisions – Cefin Commercial Vehicles, IVECO’s biggest dealer in Romania, with a 43-percent share, Cefin Automotive (car parts, tyres), EuroBody (car bodies), 4BUS (buses), Agroexpert Capital (farm machines and equipment), Cefin Systems (solutions for the car fleet management) and CefinbReal Estate.
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