Company owner Augustin Oancea expects growth of 20% in revenue and profit, from power supplied to such clients as carmaker Dacia and wood-based panel manufacturer Kronospan. Tinmar-Ind has about 50 employees.
“The revenue and net profit of last year are RON1.38 billion and RON30.1 million. Whereas revenue in 2012 was about the same as in 2011, profit was about 40% higher,” says Augustin Oancea.
“That means we focused on optimizing profit and (…) on sales to our existing clients. In late 2012 and early 2013 we got a significant number of new clients, and the results will show at the end of 2013. We expect about 20% to 25% higher revenue and profit for this year.”
The businessman said his company sold 1.4 TWh of electricity last year and should sell 30% more in 2013. The data from the power market regulator ANRE show Tinmar-Ind to have accounted for 5.81% of the competitive market last year, where it was the largest supplier after state-owned Electrica Furnizare (11.83% market share).
“Our five largest clients are now Mechel, Interagro, Doosan IMGB, Automobile Dacia and Kronospan, and the latter two we attracted in the last six months. State-run companies account for only 6% of our portfolio,” Tinmar-Ind’s owner said.
He added that even though Mechel went insolvent, once the new owners took over, some of the equipment was brought back online and therefore the group is using more electricity.
“I can definitely say many industrial consumers are having trouble because of the crisis we’re in. We can see it from the drop in power demand from them and from their cash flow problems.”
Tinmar-Ind started electricity trading in early 2007 and posted about EUR30 million revenue that year.
Although many electricity traders that thrived on bilateral contracts signed with Romania’s cheapest power producer Hidroelectrica, Tinmar-Ind was not one of them.
“We’ve bought and are still buying power from the OPCOM-run energy market, where all electricity producers sell,” Oancea said.
Tinmar-Ind is also developing several solar PV investments. Out of the planned six farms with a capacity of 50 MW, it has already completed construction on a 3 MW farm in Arcani, Gorj (southern Romania) and an 18.5 MW project with two farms in Bucsani, Giurgiu (southern Romania).
“As for the second phase of our projects, three more farms with 28 MW of installed power, I can say now that they are still under construction. I expect all three of them to be completed this year,” Oancea added.
According to market information and to the ANRE reports, one megawatt installed in a solar PV farm starts from EUR1.3 million and may go to EUR1.8 million. Tinmar-Ind’s entire portfolio can thus be put at more than EUR77 million at an average investment of EUR1.5 million per megawatt; the solar farms completed so far required more than EUR33 million. (EUR1=RON4.3237)
(English version by Loredana Fratila-Cristescu)