“Construction sector, too, will suffer this year, the pandemic is already felt in this industry. One can see difficulty in starting new projects. There is caution in the private sector and even though new projects start, there are not as many as before,” Cristian Erbasu says.
As for labor, the entrepreneur says the sector will not need to offset the shortage until 2022, because there are enough people to work on the existing projects.
The revenue of the builder increased, despite the pandemic slowing down the progress of some contracts. Therefore, some of the revenue expected in 2020 is now expected to be made in 2021.
“It was a good year, but worse than planned. The revenue went up 8%, profit by some 4%. We expect flat revenue in 2021 and a decline of the market in the first quarter compared with the first three months of 2020.”
Constructii Erbasu posted RON703 million revenue in 2019, so its 2020 revenue stood at some RON760 million.
(English version by Loredana Fratila-Cristescu)