Edy Spedition posts EUR 49 million turnover while profit goes down

Local transport company edy International Spedition posted EUR 49 million in revenues for the first nine months of the year, up 25 percent on the same period last year. This is above the market increase level and was triggered by the increase in volumes and by the optimization measures taken by the company, according to edy International Spedition. The company externalized the tire management activity and managed to decrease its fuel costs. The company posted a profit before taxes (EBITDA) down 12 percent compared to the first three quarters of 2009. Due to the increase in fuel prices, edy International Spedition has also decided to increase prices, according to Mircea Tiplea, financial director with edy Group. The group attracted European funds for four labor health and safety projects for all its four companies: edy Logistics, edy International Spedition, Autocamion Service and Diesel One, as well as for a labor qualification project for Autocamion Service. The total value of the EU financing is of EUR 600,000. The group employs 1,700 people. Its fleet grew by 10 percent in the first nine months of the year, reaching 1,100 trucks. Edy group was created in 1991 by Alin Popa, who is the CEO of the group. In 2005, the Romanian American Enterprise Fund (RAEF) invested in the company. editor@romania-insider.com