Intrarom rebounds from 2002 decline

Intrarom, the Romanian branch of the Greek IT and telecommunications group Intracom estimates to see turnover up 10%-15% in 2003 compared with last year when it was worth $55 million (i.e. less than half of the 2001 turnover, $118 million). The rebound is due to the lower dependency on RomTelecom, its most important client so far. “We maintain our 10%-15% turnover growth forecasts, considering we’ve been on schedule thus far,” Konstantinos Tsoukalidis, Intracom deputy chairman told Ziarul Financiar. Intrarom is interested in the computerisation of the Constanta and Cluj-Napoca City Halls and is planning to take advantage of its privileged relation with the US defence giant Raytheon to reach an agreement on the retooling of the Romanian Military with the National Defence Ministry (MApN). The company is this way trying to find other profit streams besides its co-operation with RomTelecom. The latter halted retooling and upgrading investments last year, which contributed to the 50% decline in the turnover of Intrarom, its main supplier. ZF