“The extended economic crisis affected UTI’s business, as well, so in 2013 we posted EUR125 million revenue, lower than in the previous years,” the company officials told ZF.
“We expect higher revenue in 2014, EUR130 million.”
The revenue of the group stood at EUR160 million in 2008, a level again attained in 2011.
The group did not provide any details about its 2012 revenue. UTI Grup SA, one of the largest companies of the group of businessman Tiberiu Urdareanu, posted EUR111 million revenue in 2013, an increase of 68% on the previous year, according to Finance Ministry data.
UTI group has invested in a number of projects in the last few years, such as the development of the fiber optic network in Bucharest (the Netcity project) or the building of a production facility.
The latest investment of the group is the acquisition of 60% in EguildE, a company specializing in development and supply of GIS (Geographic Information System) type applications. A geographic information system is a computer system that captures, stores, manages, analyzes and presents all types of geographical data.
“With this acquisition, UTI expands the service portfolio to be able to provide its customers with as diverse and complete set of solutions as possible,” the group officials said, without revealing the value of the deal.
The UTI group continues to look for potential acquisition targets among solution providers, its officials said without elaborating further.
(English version by Loredana Fratila-Cristescu)