Hidroconstuctia close to €100 mln in business in H1

 “This increase was based on a series of ongoing contracts which started in the first half of 2007,” Deputy Economic Manager of Hidroconstuctia, Silvia Bindileu, told Business Standard.

Due to a drop in orders from Hidroelectrica, player on the Romanian energy market and Hidroconstuctia’s main client, the company expects its turnover to fall by 14 percent in 2007. Net sales forecasts reach €200 mln in 2007, compared to €228 mln in 2006. The company budgeted €1.5 mln for investments in 2007.

So far, the company made 68 percent of its initial-forecast turnover. “We are already working at several of these projects and we are likely to exceed RON 800 mln [some €237 mln],” Silvia Bindileu added.

The company’s projects include modernizing the sewerage network in the towns of Deva, Craiova, and Bistrita Nasaud for contracts worth €26 mln, €20 mln, and €25 mln, respectively.

“We have won an auction for a series of works for The Romanian Waters National Administration as well as several public administration works. If the weather is favorable, we will reach last year’s figures,” said Silvia Bindileu. Hydro energetic works made up almost one half of Hidroconstuctia’s net sales in 2006.

The value of the Romanian construction market exceeded €7.5 mln in 2006, and a 15 percent increase is estimated for this year. Hidroconstuctia’s main competitors on this market are TMUCB and Energomontaj.