“We did work on projects for companies operating in the industry, though, and we also focused on the international market. About 10% of the revenue in 2016 came from projects abroad,” Valeriu Iftime told ZF.
“We’ve had branches in Belgium and the Republic of Moldova for about three years and we implemented an upgrade of two pumping stations at Termoelectrica Chisinau in 2016.”
The group also completed two projects in Romania, a new desulfurization unit at CET 2 (combined heating and power plant) Iasi and a new high efficiency electricity and heating generation system at CET Oradea.
“The Elsaco group posted about 233 million lei (EUR52 million) revenue last year, more than in 2014 (RON196 million). We cannot compare the results of the previous year with those in 2015, which was an outstanding year, when we made RON704 million revenue because of big projects.”
Elsaco group is aiming for double-digit growth this year, so it could post more than RON250 million revenue again.
(English version by Loredana Fratila-Cristescu)