Hidroconstrucția's recovery, one of the largest Romanian contractors in the hydroelectric construction sector, represents a rare case on the local market: the transition from insolvency to profit in an extremely short period. Having entered insolvency proceedings in 2022, the company managed to return to profitability in 2024, with a profit of over 3 million euros and significant distributions to creditors, driven by an extensive restructuring and asset divestment process, writes Construction Agenda.
„According to public data, only 4–5% of the insolvency proceedings initiated in Romania move beyond the observation phase and result in the approval of a reorganization plan. The fact that Hidroconstrucția is now part of this select group is a testament to the entire team, which understood that the only guarantee for the company’s future is consistently demonstrated performance, contract after contract.”.
The decisive factor was the strategic consensus maintained among all stakeholders involved – the Special Administrator, the Judicial Administrators, the management structure, and the majority shareholder.
”This collaboration confirmed a principle often contested in practice: procedural rigor and operational agility are not in contradiction, but mutually conditional when the stake is sustainable recovery.„ declared Mihai Marin, general director of Hidroconstrucția SA.
Financial data offers the clearest measure of recovery. After a 2023 fiscal year that ended with losses of 220 million lei, the year 2024 marked the turning point: a net profit of 15.49 million lei (approximately 3.1 million euros) – the company's first positive result in many years.
„Financial data confirms the effectiveness of the recovery strategy. After a deficit of 220 million lei recorded in 2023, the 2024 fiscal year ended with a net profit of 15.49 million lei (approximately 3.1 million euros). Interim results and projections for 2025 indicate the maintenance of this upward trajectory. The continuity of performance confirms that the recovery does not reflect favorable circumstances, but rather economic activity re-established on sustainable foundations.
At the beginning of 2025, the portfolio of active contracts under execution exceeded 514 million lei, and the steady physical progress on ongoing projects confirms the company's capability to deliver complex objectives even during restructuring periods. The reversal of results – from a loss of 220 million lei to a net profit of 15.49 million lei – reflects the cumulative effect of structural optimizations, operational cost efficiencies, and a rigorous liquidity management strategy. The consistently applied financial discipline has enabled cash flow stabilization and the reduction of non-performing exposures,” Mihai Marin also stated.