Corneliu Bodea, shareholder of ABBC Group, becomes CEO of ADREM.
Bucharest, 8 June, 2016 – The Adrem energy companies are repositioning themselves on the energy market and are consolidating their position by reconfiguring their portfolio and launching a new company.
As of the month of May, there will be 3 Adrem companies specialized in products, solutions and services dedicated to the energy field, with portfolios covering 3 business lines:
Adrem Automation becomes Adrem Engineering. The company develops and implements complex solutions for energy infrastructure – from complex general contracting works, to equipment developed in-house, with the safety of electrical infrastructure as its main objective.
Adrem Invest provides services for utility networks, such as meter reading, management of electricity meter groups, electric infrastructure maintenance and power distribution network operation, while its main objective is safe operation of networks and client satisfaction.
Adrem Link, Adrem’s new and innovative business component, promotes solutions for energy efficiency, visibility & information, operational optimisation and automation & control, both for energy intensive users, as well as the consumers in the residential sector.
“Adrem has stood for industry, energy and innovation for the past 24 years. It’s a history that we take pride in and that we are still writing with passion and responsibility for employees, partners and the industry. This is the main reason why I took over the position of CEO of the Adrem companies and why we decided to opt for integrated communication under the Adrem brand. The rebranding of Adrem Automation, the reconfiguration of Adrem Invest’s portfolio and the launching of Adrem Link are Adrem’s response to the market needs and its adaptation to the current economy” according to Corneliu Bodea, CEO of Adrem and Chairman of the Romanian Energy Center.
Financial results for 2015 and estimated results for 2016
The Adrem companies operating in the energy field, as part of ABBC Group held by Adrian and Corneliu Bodea, had a turnover of EUR 34 million (RON 154 million) in 2015, and an operational profit (EBITDA) of 11%. By the end of this year Adrem estimates a turnover of EUR 48 million (RON 215 million) which represents an increase of 40% as compared to 2015.
The estimated operational profit (EBITDA) for this year is of 8%. Given the increase of the turnover with 40% as compared to 2015, the stagnation of the operational profit (EBITDA) is a result of the business strategy of the company. The main goal of the Adrem companies is now to consolidate the portfolio of works and clients and to increase expertise in certain business segments.
“We are aiming for an ambitious growth this year, but the certainty of reaching this objective stems from the stability of the Adrem companies, from their on-going complex, large-scale projects, from the expertise and dedication of the teams of Adrem specialists. With these assets, in a challenging market and socio-economic context, we intend to consolidate our position as a professional partner and to continue to exceed our clients’ and our partners’ expectations”, added Corneliu Bodea, CEO of Adrem and Chairman of the the Romanian Energy Center.
In terms of percentages, for the year 2015, Adrem Engineering, formerly known as Adrem Automation, accounted for 30% of the global turnover and 70% was generated by Adrem Invest. The newest company, Adrem Link, will begin to have a financial impact as of 2017.
*The ABBC Group, comprising the Adrem companies operating in the energy industry, reported a turnover of EUR 53 million at the end of 2015 and estimates an increase of 10% in 2016.
Adrem represents three innovation-oriented Romanian companies operating in the energy industry: Adrem Engineering, Adrem Invest and Adrem Link. Together, they provide products, services and solutions covering the energy field, such as: comprehensive solutions for energy infrastructure, from complex general contracting works and in-house developed equipment (Adrem Engineering) to services for utility networks such as meter reading, management of electricity meter groups, electric infrastructure maintenance and power distribution network operation (Adrem Invest) and solutions for energy efficiency, visibility & information, operational optimisation and automation & control and smart home products. The Adrem companies have 1600 employees and national coverage and an estimated turnover for 2016 of EUR 48 million.