“The takeover of the carriages from Rompetrol Logistic at the end of 2011 made a significant contribution to the increase in revenue and profit last year. This year’s growth will come from new contracts,” Gruia Stoica said.
The revenue of the largest private railway freight carrier in Romania stood at RON804.3 million in 2011, about 43% more in lei than in 2010. This year’s forecasts point to an 8% increase in revenue, much below the growth rate of the net profit.
GFR’s clients include OMV Petrom (SNP.RO), Lafarge, Dacia and Mechel, according to the latest information available.
In over ten years, Gruia Stoica, one of the lowest profile businessmen in this country, has gradually developed a profitable business out of freight carrying in Romania, Hungary, Serbia and Bulgaria.
Other private railway carriers are Servtrans and Unifertrans, but GFR has the highest market share (33%). The three compete with state-run freight carrier CFR Marfa. (EUR1=RON4.4593)
(English version by Loredana Fratila-Cristescu)