Editorial
A long business cycle of sustainable growth came to an unexpected end also in
Romania . The speed and the breadth of the deterioration in the general business environment in the 2nd half of 2008 were quite unprecedented. Since October of last year the reality has made us revise macroeconomic indicators several times. This left its mark on many companies result and the decline of the performance confirms that we are in the influence of the crisis. I am not yet in a position to tell how long it will last but I am convinced we are not yet at the bottom of it.
All the companies have to take measures in order to master the storm. In a prolonged crisis the only way to compensate for structural losses of volumes is through sustained fixed cost reductions and a close control of the cash situation in the times of disturbed credit markets. It is important to take such measures immediately. I wish you all to take the right decisions and a lot of energy to successfully sail through this storm.
Thank you very much for the confidence you have given to my colleagues and me by electing us the new board of the CCE-R at the General Assembly on March 23rd. I believe in the huge potential of
Romania and trust that we shall have further opportunities to develop our companies and to contribute to the good development of
Romania .
I am looking forward to meeting many of you in the forthcoming months and to also sharing success stories with you.
Markus Wirth
CCE-R President
Markus Wirth
CCE-R President
