“The number of contracts is lower, and once starting the proceedings, the company decided to drop unprofitable contracts. After the starting the proceedings with CITR support, the company regained financial balance,” says Ionut Sandor, partner with CITR, the court-appointed trustee of Delta ACM.
However, Delta ACM revenue halved in 2019, due to the lack of funding on the construction sites opened before the insolvency. The revenue stood at 72.2 million lei and losses at RON69.1 million. The average number of employees was 253, according to Finance Ministry data.
In 2018, the last year before insolvency, Delta ACM posted RON136.7 million revenue, almost half of the 2017 level, Finance Ministry data show.
(English version by Loredana Fratila-Cristescu)