Eurolines group in the first half of this year generated turnover worth 15 million euros, according to Dragos Anastasiu, general manager and one of the two shareholders in the company.
"First-half turnover was flat from the same period of last year because there are domains where we focused on efficiency boosting and most of the times, efficiency is achieved by reducing turnover, too," he adds.
The group is made up of around 16 firms with various activities, from a travel agency, cargo and passenger transportation, to car leasing, taxi operations and courier services.
"Touring Europabus Romania, with international transportation activities, accounts for the bulk of the group's turnover because coaches are registered and everything that's sold is turnover, unlike the sale of airline tickets, where fees make up the turnover," says Dragos Anastasiu.
Touring Europabus in the first six months posted turnover worth 6.5 million euros, 15% higher than in the corresponding period of last year.
"This year, we'd like to reach the level of 2004, given that 2005 was the worst year," says Anastasiu. The transportation company in 2005 logged losses of 130,000 euros amid turnover worth 14.5 million euros.
In 2004, Touring Europabus reported 17.5 million-euro turnover and income standing at 40,000 euros.
On the segment of international transportation, Anastasiu plans to invest 1.5 million euros over the following months to renew the vehicle stock. At this moment, the company has a car fleet of 40 coaches, with an average age of 4 years.
The second biggest business of the group is ticket sales. This segment generated turnover between 4 and 4.5 million euros in the first six months, up 70% against last year. For 2006, the company targets 9 million-euro turnover.
At the same time, Eurolines travel agency expects to derive 5 million-euro turnover, up around 10% compared with 2005. First half results look encouraging, with the agency having derived 2.3 million-euro turnover.
The rent-a-car business is the fastest growing of all, according to Eurolines representatives. First-half turnover on this segment amounted to 400,000 euros, with turnover worth 1 million euros being projected for the entire year, double the value posted last year.
The Eurolines representative estimates the group will reach turnover worth at least 27 million euros this year.
Anastasiu is also considering some possible acquisitions or mergers in the wake of EU integration. At the same time, Eurolines manager believes transportation by coach will go through some difficult times over the following period as an increasing number of low-cost and large transportation companies enter the market. Beside the entrance of big companies, another trend on the transportation segment will be market liberalisation.
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