“Together with our top management team we have decided that bringing UTI’s key technical competences and its financial strength together into one single company is a natural step in our effort to meet our main objectives over the next 3 years: listing the group on a European stock exchange, international development and boosting operating efficiency,” said Tiberiu Urdareanu, president of UTI.
“The merger offers us the opportunity to rethink UTI’s positioning on the local and international market, as well as the ability to approach complex projects, which require competences brought together into one entity,” he added.
The audited turnover of the UTI Group for 2011 was EUR160 million, slightly up on the preceding year. Profit rose in 2011, with EBITDA reaching EUR24.2 million (15% of the revenues), while in 2010 EBITDA was EUR22.6 million (14% of revenues).
UTI’s 2011 results show “UTI’s ability to withstand the extended crisis (…).In 2011 the value of our international projects increased 5 fold in countries such as Poland, Bulgaria, Albania, Ukraine and Serbia. For 2012 we estimate a turnover at least similar to last year’s,” Urdareanu also said.
The UTI group will make investments of EUR50 million over the coming period, he added.
“Although we are expanding significantly at international level, our Romanian projects are also important to us and we have proved we have the best competences on the market in the following sectors: critical infrastructure, retail, IT&C, traffic management, constructions. We will invest significant human and financial resources in developing these segments in the future as well.”
UTI has a holding structure and its operations are organized into four lines of business: security and defense systems, retail, information technology and communications, traffic management, constructions and facility management.
UTI’s shareholders are currently Tiberiu Urdareanu through TIU Holdings – 57.06%, PineBridge Investments – 27.02%, the UTI Foundation (stocks allocated to key UTI employees through the Stock Option Plan) – 9.90% , and other shareholders – 6%.
(English version by Daniela Stoican)