- In 2019, the company maintains its turnover from last year – 40 million euros – despite the unpredictable regulatory framework
- The evolution of the Adrem group in the period 2020-2024 will be solid, based on long-term contracts, and profitability will be increasing.
Bucharest, December 18, 2019 – Adrem maintains its turnover of EUR 40 million, at the level of last year, despite the unpredictable regulatory framework that emerged following GEO 114/2018. In 2019, the group retained its ability to contribute to maintaining the safety of the energy sector by offering complex services and products and by expanding the product portfolio dedicated to end consumers.
“Our group has invested over 20 million euros in the last 5 years, investments aimed at developing electricity production capacities from renewable resources, machinery and equipment, IT solutions and personnel development. In the last year, investments have suffered at the level of the entire market. However, we continue to aim to increase the customer portfolio while maintaining the satisfaction of current ones and to be a reliable partner of the communities in which we operate”, said Corneliu Bodea, CEO of Adrem and President of CRE.
2019 was a difficult year for Adrem, perhaps one of the most difficult years in recent times at least, due to GEO 114/2018 which affected all partners in the market. They had to reduce project budgets and cover the taxes imposed by law, which further led to the company’s budgets and projects being affected. To cope with the situation, the Adrem group of companies had to adjust costs quarterly, rethink its business model and identify new development opportunities.
“This year we have talked many times about resilience and now I come up with a new example: GEO 114/2018 has affected us all, both companies and employees. The fact that we managed to maintain our turnover at the same level as last year is proof of our ability to withstand crisis situations and to recover later through adapted and diversified strategies. In 2019 we started diversifying the B2C portfolio with new services and products, and in 2020 we will continue these activities, we will look for solutions that will help us recover from this ordinance and confirm the growth I estimate in the Romanian energy industry”, continues Corneliu Bodea.
This year, Adrem contracted approximately 115 million euros, almost 10% more than the previous year. Among the company’s most important projects are the contracts for periods of four and eight years for the provision of services such as maintenance and management of metering groups with some of the main energy and gas distributors – CEZ, E.ON, Enel and Electrica. At the same time, this year we focused on smart metering, smart grid and digital transformation projects.
In 2020, Adrem will resume the strategic objectives of 2019 and will continue to be involved in major projects, especially general entrepreneurship and energy efficiency, in gas transmission and energy distribution infrastructure. It will also continue the strategic direction of diversifying the customer portfolio in the B2C area and implicitly developing services and products for energy end consumers, industrial, municipal or household.
