163m-euro business for Hidroconstructia

The construction company Hidroconstructia posted a turnover worth 587.1 million RON (some 163 million euros) last year, a 27.3% increase against the figure seen in 2004 and a net profit worth 30.9 million RON (approximately 8.5 million euros), 60% higher than in 2004. The company conducted investments worth 36.9 million RON last year. “85% of the investments were made to acquire machines and construction equipment, particularly for underground works,” stated Romeo Bogdanovici, marketing director of the company. This year, the company will allocate 28 million RON for investments from the profit posted in 2005, with the destination of these funds to be established at the end of June, Bogdanovici added. Hidroconstructia posted a turnover worth 461.1 million RON in 2004 and a net profit worth 19.2 million RON. Hidroconstructia was set up as a state-owned company in 1950 to build the Bicaz hydropower station, and became a 100% private capital company in 1995 by means of the MEBO method. The company, headquartered in Bucharest, has 12 branches, one of which is in Germany. ZF