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Tag: Zoltan Prosszer

  • Lessons in failure

    After many years of fighting to save his businesses, with numerous failures and a few successes that helped him get back on his feet, Zoltan Prosszer says, talking with BUSINESS Magazin, that he is now feeling like he did twenty years ago. Just like he did back then, when he was starting the business that would turn into a real automotive empire, he now has to decide where to go.

    In the almost twenty years since his start, Zoltan Prosszer has lived a slightly different history than most entrepreneurs – having learnt many years ago what insolvency, reorganisation, battle with banks and bankruptcy are. Few companies found themselves unable to repay their instalments to the bank or experienced a forced sale during the economic boom in the past. In times of growth, as Romania’s over the last eight years, businesses grew fast, in sync with the market, with few notable failures. There have been only a handful of high-profile bankruptcies: the failure of the electrical retail network Cosmo (founded by businessman Gyorgy Baba), of the Univers’all store chain (created by Razvan Petrovici) and, the latest one, which happened recently, of the IpoteciDirect (MortgageDirect) credit broker (established by seven experienced businessmen). Prosszer has been through such an experience more than once. His story gets a special meaning when put in the context of an economy that is no longer growing in full gear, of the shrinking markets, of banks closing, and of increasingly more common arrearage in the day-to-day operations.

    Zoltan Prosszer started his business in 1991, when he was 27, by investing 1,400 euros to open a shop that sold car parts, which he used to bring in his own car from Italy. He then opened a car repair shop with the money he got from mortgaging his apartment and after that the business took off. In 1996, the group he developed, Paneuro Group, became the market leader on the car part segment and continued to increase until 2002, when it comprised more than 20 companies and employed about 1,400 people. Each line of business was handled by a separate company, which worked with the others in such a way as to create markets for each other. The core was the retail company, Paneuro Trading, which had been established in 1994 and reached 20 million-euro turnover ten years later. Prosszer was one of the first Romanian entrepreneurs to create a group, which eventually turned out to be the Achilles’ heel for his business. Decline started after 2002, and his companies, which had guaranteed loans for each other, went bankrupt one by one between 2004-2005 (Paneuro Trading, Paneuro Leasing, Atu, Novator, Muss) or had to be sold (Aliat). Only of a few companies of the group remain today (Paneuro International, Romcab, Motoplus Paneuro).

    Romcab, the low voltage electrical wiring factory in Targu Mures, which Prosszer bought for one million dollars chiefly because of its warehouses and land ten years ago, was what saved him from complete bankruptcy and is now his main business. He owns about 72% in it, along with a Dutch investment fund – MEI, 5% and Morgan Stanley – 12.2%, with the rest of the shares traded on RASDAQ.

    Though still going through reorganisation, which started in 2004, when it took over 11.5 million dollars (9.5 million euros) in debt from the companies that had gone bankrupt, Romcab is a solid company, Prosszer says. Its market share stands at 10% and demand is higher than it can handle, he adds, even though it has lost a few contracts since the onset of the economic crisis.

  • Falimentul Paneuro, povestit de fondatorul grupului

     

    Dupa multi ani in care a luptat pentru a-si salva afacerile, cu numeroase esecuri si cateva reusite care l-au repus pe linia de plutire, Zoltan Prosszer se simte acum ca in urma cu 20 de ani, dupa cum spune intr-o discutie cu BUSINESS Magazin. Ca si atunci, cand abia punea bazele afacerii care avea sa ajunga un adevarat imperiu auto, si acum trebuie sa decida in ce directie se va indrepta.
     
    Pentru a deschide in 1991 un service auto in orasul natal, Targu-Mures, Prosszer a trebuit sa faca rost de 25.000 de marci ger­mane – “un efort ce mi se parea imposibil” -, iar pentru a-i aduna a decis sa puna gaj chiar apartamentul familiei. Acum miza e mult mai mare, pentru ca trebuie sa decida daca vinde sau incotro isi indreapta si ultimul business important care a mai ramas din Paneuro Grup – holdingul pe care l-a construit pas cu pas pornind de la atelierul de mecanica, ajuns in 2002 la afaceri de 55 de milioane de dolari, pe care tot el l-a ruinat cu cateva decizii pripite.
     
    In cei aproape 20 de ani scursi de la momentul inceputului, Zoltan Prosszer a trait o istorie putin diferita de majoritatea antreprenorilor – afland in urma cu multi ani ce sunt insolventa, reorganizarea, lupta cu bancile si falimentul. Putine companii s-au confruntat in trecut, intr-o perioada de plin avant economic, cu imposibilitatea de a-si plati ratele la banca sau cu executarea silita. In perioade de crestere, cum a avut Romania in ultimii opt ani, afacerile s-au dezvoltat rapid, in ritm cu piata, si au fost putine esecuri notabile. Falimentele rasunatoare se pot numara pe degete: esecul retelei de electroretail Cosmo (fondata de omul de afaceri Gyorgy Baba), al lantului de magazine Univers’all (creat de Razvan Petrovici) si, foarte de curand, al brokerului de credite IpoteciDirect (intemeiat de sapte oameni de afaceri cu experienta). Prosszer a trait insa o astfel de experienta si nu o data. Povestea lui capata un sens aparte in perspectiva in care economia nu mai duduie, pietele de desfacere s-au ingustat, bancile si-au inchis portile, iar blocajul financiar e tot mai comun in activitatea de zi cu zi. “Fiecare om poarta palaria potrivita”, spune Zoltan Prosszer, si trebuie sa invete propriile lectii in afaceri, dar la fel de importante pot fi invatamintele desprinse din experienta altora.
     
    Zoltan Prosszer a inceput afacerile in 1991, la 27 de ani, investind 1.400 de euro pentru deschiderea unui magazin de piese auto, pe care le aducea cu masina proprie din Italia; a urmat service-ul auto deschis cu banii din ipotecarea apartamentului, iar de atunci afacerea a crescut rapid. In 1996, grupul de firme pe care le-a dezvoltat, Paneuro Grup, devenea lider de piata pe segmentul pieselor auto, iar pana in 2002, grupul a tot crescut, ajungand sa includa peste 20 de companii si circa 1.400 de angajati. Fiecare linie de afaceri se desfasura printr-o companie separata, intr-un angrenaj de firme gandit astfel incat sa isi creeze una alteia piete de desfacere. “Miezul fierbinte” era firma de retail, Paneuro Trading, fondata in 1994 si care ajunsese zece ani mai tarziu la o cifra de afaceri de 20 de milioane de dolari. Prosszer a fost printre primii antreprenori romani care au creat un holding, o structura ce pana la urma s-a dovedit a fi calcaiul lui Ahile pentru businessul lui. “Am fost mereu pionier, chiar daca nu neaparat in sensul bun al cuvantului”, spune Prosszer acum. Dupa anul 2002 a inceput declinul, iar in perioada 2004-2005 firmele sale, care girasera intre ele pentru imprumuturi, ajungeau sa dea faliment in cascada (Paneuro Trading, Paneuro Leasing, Atu, Novator, Muss) sau sa fie vandute de nevoie (Aliat). Azi mai exista din grup doar cateva companii (Paneuro International, Romcab, Motoplus Paneuro).
     
    Romcab, fabrica de cabluri electrice de joasa tensiune din Targu-Mures, pe care Prosszer a cumparat-o acum zece ani cu un milion de dolari, mai mult pentru depozite si teren, a fost salvarea de la un faliment total si este acum principala lui afacere. El detine circa 72% din actiunile firmei, avand coactionari un fond olandez de investitii – MEI, cu 5% – si pe americanii de la Morgan Stanley (cu 23%). 
     
    Desi se afla inca in proces de reorganizare – inceput in 2004, cand a preluat datorii de 11,5 milioane de dolari (9,5 milioane de euro) de la companiile intrate in faliment – Romcab e o firma solida, sustine Prosszer. Are o cota de piata de 10% si cereri cat nu poate sa duca, spune el, cu toate ca de la inceputul crizei economice a mai pierdut ceva contracte. Cu experienta ultimilor ani inca vie inca in memorie, Prosszer vorbeste insa despre viitor cu oarecare detasare. Nu vede in criza o mare problema pentru afacerea sa, ci mai degraba un avantaj. E constient ca nu va scapa cu totul de efecte – se asteapta ca ieftinirea materiilor prime sa injumatateasca cifra de afaceri a Romcab anul acesta, spre 7-9 mil. euro – dar faptul ca si competitorii sai au probleme e un atu pentru el. “Noi nu aveam sanse sa primim finantare, pentru ca bancile nu se uita la companii aflate in reorganizare juridica. Acum nici concurenta nu mai primeste bani, deci tot raul este spre bine.” Prosszer se afla in fata unei decizii dificile: daca ar putea sa se dezvolte, ar vinde si mai mult, crede el, mizand pe exporturile firave pe care le face Romcab, dat fiind ca acopera in primul rand cererea interna si doar excesul merge la export. “Sunt putine firme functionale care se pot dezvolta fara investitii masive, iar pietele de desfacere mari, Arabia Saudita sau Rusia, au nevoie de capacitati de productie cu costuri de productie foarte mici.” Pentru a-si creste capacitatea de productie are insa nevoie de capital – de care nu dispune. In trecut, exact aici i-a fost greseala: luat de valul potentialului de crestere enorm pe care il simtea la tot pasul, nu a stiut sa fie chibzuit, vrand sa-si dezvolte businessul fara sa aiba insa bani suficienti pentru a sustine aceasta dezvoltare.

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