This is almost double as much as on domestic routes, ZF has found.
“Edy Spedition continues to operate according to the reorganization plan and has more trucks in its fleet. The reorganization plan continues until 2018 and may be extended until 2019,” said the officials of Rovigo, the court-appointed trustee of Edy Spedition.
“We cannot say what assets the company has now because there is a policy that has to be seen through. The company mostly operates on the international market now.”
Edy Spedition, which is undergoing reorganization, posted 31.9 million lei (EUR7 million) net profit and RON33.9 million revenue, which means the profit margin stood at more than 94%, according to 2015 Finance Ministry data, the latest available. The company posted RON54.5 million revenue and RON42.7 million loss in 2014, the highest loss in its sector. The number of employees shrank from 291 in 2014 to 180 in 2015. There are no official figures available for 2016.
Market sources say the company has recently bought a fleet of ten new trucks to add to its fleet, but Rovigo did not confirm the information. After having gone insolvent, one of the biggest problems of the company was that out of the more than 1,000 trucks it once had it was left with only the oldest, which had the highest maintenance and fuel costs.
Last year’s revenue and net profit came from the sale of the company’s assets to the group held by Ion Lazar. Edy’s assets were put up for sale by Rovigo in June 2015.
“Lazar bought the assets but that doesn’t mean [Edy Spedition] can’t continue to operate. They bought part of the assets, which were not needed to keep the operations going,” Rovigo said.
The assets put for sale included almost 300 tractor heads, more than 100 semitrailers and some real estate.
Market sources say the money from the sale of the assets helped Edy Spedition pay most of its creditors. (EUR1=RON4.5333)
(English version by Loredana Fratila-Cristescu)