“Growth” was the key word for many construction material manufacturers in 2020.
The first data actors in this business supplied at ZF’s request or available on the Finance Ministry website or in financial reports show growth rates of 20% to 30% on average.
The companies to have posted significant rise in revenue include InterTransCom (manufacturer of wire mesh based din Bacau and owned by entrepreneur Ioan Teslaru), Elis Pavaje (paver maker based in Alba County and held by the Gota family) and Electric Plus (door and window trim manufacturer based in Bacau, held by Adrian Garmacea).
Such growth rates of 20% to 30% were hard to estimate for even the most optimistic managers and entrepreneurs in mid-2020. A year ago, they expected to shut down, were already seeing decline in revenue and were thinking of survival above all.
As 2020 upset every company’s plans, one can only gauge the effect of the pandemic now, when businesses are now filing their last year reports, and see who the winners and losers of the crisis are.
“The year 2020 was our company’s best ever,” Stefan Cherciu, owner of door and window trim maker Casa Noastra, which posted 9% growth in 2020, said early this year.
Pandemic aside, 2020 was the second best year in a decade for the construction sector, National Statistics Institute data show. The volume of construction works increased by 15.9% in 2020 over 2019, while the growth rate in 2019 over 2018 was almost 28%.
(English version by Loredana Fratila-Cristescu)