Also, the company sees a slightly higher in 2015 compared with EUR85 million in 2014.
“We better managed costs related to equipment production and implementation of electric installations projects, registering a higher domestic efficiency, while continuing the expansion internationally,“ said Stefan Gadola, EnergoBit’s executive vice-president and co-founder, next to Péter Pál and Ioan Socea.
EnergoBit operates on the markets in Hungary, Serbia, Algeria, Macedonia, Ghana, Tunisia, Saudi Arabia, Qatar, Africa, as well as Iraq.
“Taking into account the need for investments in the local electric power distribution networks, we expect to announce various projects over the next period. We managed to increase the company’s financial strength with a circulating capital of EUR8.5 million, which provides us a higher reaction rate to get involved in large-sized projects,“ said Andrzej Bartos, managing partner with Innova Capital and president of EnergoBit’s Administration Council.
End-2012 Gadola Ștefan, Socea Ioan and Péter Pál, the three Cluj-based businessmen that set the basis of EnergoBit, sold a 53% stake in the company to Innova Capital, at over 20 years since the company’s setup.
(English version by Manuela Panescu)