The company blames the decline on the dearth of major construction investment projects from both the government and from private companies. Hidroconstructia, the second leading builder after Austria’s Strabag in 2015, is the first major construction company to announce 2016 revenue.
“Hidroconstructia SA posted RON403 million revenue from its core business – construction and installation work, related operations (services and goods sold) and other operations in 2016. The 2017 revenue estimate is about RON600 million from construction projects carried out in Romania (90%) and abroad (10%),” Hidroconstructia officials say.
The 2016 decline came after a 2015 when the builder had bounced back, posting its best results since 2011. Its business had halved in 2011-2014.
(English version by Loredana Fratila-Cristescu)