How Electroprecizia returned to profit after 5 years of declining turnover

Electroprecizia Săcele (ELZY) electrical engine producer, owned by businessman Adrian Secelean, last year managed to return into the black with a net preliminary gain of 1.25m RON, after three consecutive years of staying in the red.

At the same time, the company’s turnover more than doubled in 2010, to 189.2m RON (45m euros), a six-year high, in the wake of big orders from abroad.

The electrical engines the company produces and delivers abroad last year came to generate 90% of turnover, with ABB Asea Brown Bovevi, one of the world’s biggest producers of electrical engines as its main client.

“In 2002-2003, around 80% of Electroprecizia production was focused on production of electrical equipment for the domestic market, for Tractorul, Semănătoarea, Daewoo. Now, we produce 10% electric equipment and the rest engines. Had we not changed our activity and shifted to foreign markets, we would have been closed by now,” says Constantin Zavarache, who filled the position of general manager until last December.