However, the main obstacle is the recovery of receivables from suppliers. “We have a contract portfolio worth RON 800-900 million (€187-210 mln), so we can maintain the turnover at the 2008 level. Nevertheless, we have difficulties as far as liquidity is concerned, because we have to recover receivables worth €50 million from our suppliers. If there is a delay in payments, we will have to resort to loans, which is not advantageous, given the higher loan costs lately,” a Director within the company, Romeo Bogdanovici, told Business Standard.
The company could actually take out loans from the €60 million credit line that it has open, which has only been used so far for collateral letters needed to participate in tenders.
The company operates mainly on the hydro energy and hydro technical construction field. Its share capital amounts to €34.7 million.
