Hidroserv managed to exit insolvency due to the strict implementation of the reorganization plan, which boosted the company’s revenue by 36% in 2024 compared with 2023, up to RON313 million. Compared with 2016, the year in which the company entered insolvency, revenue saw an over 2.6-fold increase.
Throughout the reorganization period, Hidroserv switched from net loss of RON46 million in 2016 to net profit of RON27 million in 2024, which translates into a significant financial performance.
Hidroserv was established in 2013 following the merger through absorption of eight company divisions located in Bistrita, Cluj, Curtea de Arges, Hateg, Portile de Fier, Ramnicu Valcea, Sebes and Slatina, with the aim of providing maintenance and modernization services for Hidroelectrica.
Hidroserv entered insolvency in October 2016 due to its suppliers amassing debts.