IPTANA, the former Auto, Naval and Air Transport Design Institute, the strongest domestic company on the market of road infrastructure consulting services, ended last year with turnover in excess of 12 million euros, up 20% against the previous year. According to its estimates, the profit margin last year stood at 10%. In 2005, IPTANA reported a turnover worth 8.4 million euros, a figure around 15% lower year-on-year.
The most important works in the company's portfolio are related to the construction of the Transylvania highway. Stretching a length of 415 km, it has an estimated cost of 2.2 billion euros and expected completion is 2013, according to the terms of the contract.
The most important projects IPTANA contracted last year include the redevelopment and modernisation of Sibiu airport, in partnership with a German firm, worth around 2.6 million euros, works on the Brasov-Bors national road (110 km in length) and the redevelopment of the barge system in Constanta harbour.
According to the estimates made by the company's general manager, Cornel Martincu, the company accounts for around 10-15% of the segment of domestic consulting services for road infrastructure. Competition is tightening on this market, especially regarding projects started with money from European funds. "True competition is visible at the level of major projects, where competition is real and extremely tough (...)," said Martincu.
Over the past five years, 150 people have joined IPTANA, making a total of 600 employees. Solid market growth, as well as the fact that major projects are put up for tender in packages has helped the company's business develop domestically.
In 2005, the growth of the company's turnover slowed down as works on the Transylvania highway were halted and the company undertook various smaller projects related to flood control.
In terms of percentages generated by different works in the company's turnover, road infrastructure works account for over 50% of the total derived, followed by works related to airports, the environment and naval infrastructure.
Martincu is the main single shareholder in IPTANA, with a 12.9% stake, with the rest of shares belonging to the other employees, whilst the management team holds an amount a little above the majority stake of the company.
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