Avitech ends year with 18.6 million euros, misses forecasts

Avitech closed year 2008 with 18.6 million euros, up 34% from a year earlier, according to own statements.

The growth registered was below forecasts of 45%, due to November’s and December’s dwindling sales, in the context of a global financial meltdown.

However, the company keeps its leading position in Romania, on three market segments: audio-video built-in systems, videoconferences and high-end systems.

On professional security systems where Avitech is actively involved since 2006, the company recorded a 127% growth margin compared to 2007.

In 2008, Avitech delivered www.AVmag.ro, the first online store in Romania that delivers professional audio-video equipments.

For 2009, the company expects a turnover equivalent to 2008’s.

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