“We are going to other countries, like Azerbaijan first of all, but are also looking at Algeria and Libya. We’ve grown accustomed to the problems of these countries,” Diaconu said.
Delta ACM 93 is currently working on a highway in Iraq, an about $66.7 million contract. It also won a contract for some roads in Chisinau, the capital of the Republic of Moldova, worth about EUR6 million, last year.
The businessman estimates the 2012 revenue of the company at some EUR110 million, up 15% on the previous year.
Although the revenue increased, the profit margin fell to 3% or 4%. The 2011 net profit stood at EUR11.8 million, namely a 12% margin, according to Finance Ministry data.
“We hope to stay at about EUR110 million to EUR115 million revenue in 2013. The revenue in Romania will be below last year’s EUR95 million, but the revenue from abroad will increase,” Diaconu said.
“I still don’t know what profit we’ll see in 2013, but hope the margin will go up a little to 7% or 8%.”
He said the local construction market will be affected by the low investments this year. “Bankruptcies and insolvencies will unfortunately continue. If you do the work and don’t get your money, you end up in a critical situation,” Diaconu added.
Delta ACM has about EUR30 million to collect now for the ongoing contracts and in some cases it is not clear how continuation of the work started will be financed.
(English version by Loredana Fratila-Cristescu)