CEVA Logistic - 20 Mio EUR In 2009 Turnover Forecast

Bursa: How do you see the development of the domestic market on your segment and what are its trends?

John Pattullo: The specific market in Romania is growing very fast. Our company has so far developed only a small segment in Romania, but the potential for future development is quite great. The development plan for Romania is focused on three sectors: cars, technology and consumer retail. The plan will be implemented in Bucharest, Timisoara and, later, in Constanta. The Romanian market"s trend on this segment is quite positive. At global level, the market is growing 7-8% per year. For Romania, we estimate it will be much more.

Bursa: How do you see the year 2008 in the context of Romania"s integration into the European Union. How has your company positioned itself on the market?

John Pattullo: CEVA Romania has a turnover of some 10 million EUR and two major customers: Pirelli and Vodafone. Our target for Romania is to reach a turnover of 20 million EUR in 2009. We have very important opportunities that we would like to develop with our most important customers.

Bursa: What investments have you completed this year and what are the development plans for next year?

John Pattullo: Considering that the fiscal year is not over, I can only give you estimates on the investments. We focused on recruiting qualified personnel and acquiring certain IT hardware and software.

Bursa: What are the difficulties that you are encountering, as far as the business climate and competition are concerned?

John Pattullo: I think that the logistic business is for the moment safe from any economic problems. We are a startup company and we have enough energy and vitality to win, no matter what the economic difficulties may be. The global turnover of the logistic market is some 300 billion EUR. We rank fourth among logistic companies, ahead of Schenker and Kuehne & Nagel.

Bursa: How would you comment on the half-year results achieved in Romania?

John Pattullo: Last year, we achieved a growth by some 1.5 million EUR and then by 3.5 million EUR in 2008. For 2009, we expect a turnover of 20 million EUR.