Romstrade profit doubled in 2009

2010-07-27

The Giurgiu-based construction company Romstrade netted RON 133.9m (€31.6m) last year, double the 2008 figure, despite the general 17% year-on-year decline of the Romanian construction market in 2009.
Romstrade’s sales were generated mainly by contracts for road infrastructure work signed in 2008 with the state-controlled National Company of Motorways and National Roads (CNADNR), which invested an unprecedented sum of €1.2bn in the construction and rehabilitation of national roads that year. Between 2007 and 2009, Romstrade signed contracts worth a combined €600m with the CNADNR. The largest contract signed by Romstrade pertained to the renovation of the 148 km Transalpina national road, which links the Transylvania and Oltenia regions, an investment of €385m.
In 2009, Romstrade turned over RON 1.13bn (€267.9m), a 14% increase in comparison with the previous year, and this propelled the company into the leading position on the Romanian construction market, ahead of Hidroconstructia, which had held this position for a decade. In 2010, Romstrade expects its turnover to be reduced by 13% to RON 990.8m (€232m), and its profit to fall to RON 92m (€21.5m).