Companies in energy sector had most cash last year

Companies in the energy sector had the most cash available at the end of last year, according to a ranking supplied by the Trade Registry (ONRC) at ZF’s request, which was put together based on the indicator “cash at bank and in hand”.

Enel Distributie Muntenia distributor had the highest amount of cash on December 31st 2009, 1.8 billion RON (over 400 million euros), more than double the company’s turnover that year, of around 732 million RON. The company posted a 280 million-RON net profit during the same period. Enel Distributie Muntenia became part of Enel Romania’s portfolio in 2008, when the Romanian state parted with the “crown jewel” of the energy market. The Italians only paid around 400 million euros for the majority stake in Enel Distributie Muntenia, which means they now have in their accounts more than the amount paid to the state. Enel Distributie Muntenia boasts such big profit and so much cash because it supplies energy to the best developed area of Romania, Ilfov county and Bucharest.