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ZF English

Fan Courier expects up to 10% growth

Three Romanian entrepreneurs, Felix Patrascanu, Adrian, andNeculai Mihai, owners of Fan Courier, one of the leading couriercompanies on the Romanian market, say they met their 2009 targetsand managed to end the year with an increase in sales.

"In RON, the company's turnover rose by 9-10% in 2009 againstthe previous year, but the same is not true in euros. The profitmargin was below that of the previous year, of 17%," said AdrianMihai, one of the three shareholders of the company.

Considering the growth rate announced by the shareholders, FanCourier ended last year with around 170 million RON (39 millioneuros) in sales.

Fan Courier holds an estimated 20% share of a market put at 200million euros dominated by giants such as UPS, the French PostOffice and the German one, which entered the market in 2008.

In fact, 2008 saw one transaction after another, from the entryof the French Post Office, which bought Pegasus, currentlyreorganised under the DPD brand, to the takeover of Trans CourierService by American-held UPS, and to the acquisition of Cargus byDHL.

There have also been failures on the market, with the mostresounding one being Curiero's insolvency.

Whilst giants present on the market focus on internationalshipments, Fan Courier derives over 90% of its revenues fromshipments on the Romanian market. Felix Patrascanu, Fan Couriershareholder, says that competition is good, that it is not to blamefor a company's failure, flawed management is.

The company recorded 12 million shipments last year, more thanin the previous year, because of new clients. For this year, ownersexpect to see a rise in shipments, and, as a result, a 5-10% risein revenues, as well as an increase in market share.

Fan Courier provides services to companies of all sizes on theautomotive, pharmaceutical, construction, banking, cosmeticsmarkets, as well as to online retailers. One of the company'sclients is Flamingo International group, the third-largest playeron the electronics and home appliances market, which becameinsolvent last year.

"We have debt to recover, many small companies, as well as largeones became insolvent. We have 100,000 RON (23,000 euros) torecover from Flamingo. We also have payment delays, which can leadto arrearage, but we are trying to reduce this risk to a minimum,"Neculai Mihai said.

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