“The growth forecast is based on the works we have in progress,” Mihai Ionescu, general manager of Baumeister told ZF.
The company’s most important projects include two logistics warehouses in Transylvania, a contract worth EUR40 million euros. Ionescu would not say who the beneficiaries of the two projects were. One of the customers is German retailer Kaufland, according to information on the corporate website.
The logistics park built by Baumeister for the German-held retailer is located in Mihai Viteazu commune in Cluj county (NW Romania), has a floor area of 130,000 square meters, 50,000 square meters of which built in the first phase.54
According to the data on its website, the company is working on two residential projects, as well, one of which in Bucharest, Grivita Rezidential, and the other in Constanta, Central Apartments, that Baumeister got from Norwegian Westhouse.
Although hoping for better figures this year and saying a rebound can indeed be felt on the construction market, Baumeister’s representative believes a return of the sector to pre-crisis levels is impossible.
“The construction market is going through a time of slow rise, there’s definitely a rebound. Why is that? The increase in confidence, investors resuming projects, banks more open to investors,” Ionescu says.
“However, there won’t be any significant growth in 2012, either, and I believe the construction market will never return to pre-crisis levels.”
The company currently works with private sector customers but is also considering expanding into infrastructure projects for the government, after the Transports and Development Ministries put up for tender projects worth billions of euros in 2011.
Early last year, Baumeister announced it was interested in taking over ailing companies but the plans have been shelved in the meantime, for lack of suitable candidates.
Baumeister ended last year with 99.6 million lei (EUR23 million) in sales and net profit of about RON675,000, according to Finance Ministry data.
(English version by Loredana Fratila-Cristescu)