Interview Corneliu Bodea for Financial Intelligence.
 
How do you assess Adrem’s activity 30 years after its establishment? How has Adrem evolved in relation to the development of the Romanian economy?
 
In addition to the joy of the anniversary of 30 years of activity, this moment gave us the opportunity to look back on our activity, with all the achievements we had, but also with failures. I am grateful to have arrived here and to have contributed important projects to the development of our country. Adrem grew and developed at the same time as the Romanian economy. We have continuously expanded the portfolio of products and services and have always adapted to market trends, according to needs and opportunities.
 
In 1992 there were very few things done, it was easier to become an entrepreneur then, the important thing was to have ideas and ambition to implement them. My brother, Adrian Bodea, started the journey with the dream of modernizing the industry in Romania, I later joined, and together we had the motivation to look for solutions and projects that would help us grow our business and diversify portfolio of solutions and services. Today, after many trials to which we have been subjected, I can say that I am satisfied with what we have achieved and we continue the implementation of energy efficiency projects, modernization of the national energy system and development of the energy industry.
 
The Adrem Group currently means three companies – Adrem Invest, Adrem Engineering and Adrem Link – each specialized in its market segment. We have national coverage, with offices in 18 counties and over 1,000 employees. We are one of the largest groups of private Romanian energy services companies and the only one that collaborates with all the main energy distribution operators in the country.
 
What were the main results of Adrem during this period? But the hardest problems?
 
There were several stages in which we developed and consolidated our businesses, and of course, as in any business, we also had problems that made us stronger, more ambitious and helped us get to where we are today.
 
30 years ago we made contact with the power industry by launching a vacuum technology for drying transformers – we designed and executed transformer oil gasification plants. A few years later, Adrian patented a technology unique in the world for the degassing of liquid steel with mechanical pumps, an activity that helped us later expand to four continents, with activity in the metallurgical industry. In 2008, we entered the utility network services market, initially reading and later metering and maintenance, so the team grew from 100 to over 1,000 employees today, which led to a change in organizational culture .
 
Entering the SCADA systems market is another important moment for us, as Adrem is currently among the leaders in the local industrial automation market. We have been involved in large-scale projects for companies in strategic fields at the national level: gas transport, central heating, electricity distribution, administration and maintenance of public railway electrical infrastructure. Among the most recent are the automations for BRUA, the DN600 natural gas transport pipeline Ungheni – Chisinau and the natural gas measuring station at Isaccea 1.
 
However, throughout the 30 years, for me, the biggest achievement, besides business, is the fact that together with my colleagues we managed to create within Adrem a bold, positive and ambitious spirit that unites us and guides us every day in achieving our goals.
 
As for failures, the investment in the Suceava cogeneration plant was a failure for us, but also an important lesson that we learned and that we apply every time we have to make important decisions.
 
What has guided you in these 30 years of activity? What have you learned from these 30 years of Adrem?
 
The passion for people, the desire to be among them and to do important things together for our society have motivated and energized me all these years. I learned that people and respect for them are the most valuable resources for an entrepreneur and not only, and before developing a business, together with specialists, it is important to have the ability to develop your own person first, and then others . Likewise, the need for a balance between engagement, authenticity, and accountability is vital for both a successful leader and a team to perform at their best.
 
What are the future projects?
 
Future projects are those related to the objectives of the fight against climate change: decarbonization, decentralization of energy production and digitalization, objectives that we have in mind in our projects and in which we are actively involved with the three companies in our group. We focus our efforts to support the energy transition and carry out activities mainly related to the digitization of the energy system, energy efficiency, green energy and e-mobility.
 
Adrem offers services for the development, digitization and maintenance of electrical networks. Among the biggest projects are the installation of smart meters, Adrem being the market leader in this segment with approximately one million meters installed nationally, and electric vehicle charging and management solutions – charging station design, consultancy, implementation, commissioning function and others.
 
Energy infrastructure digitization projects are a priority for us: smart grid, automation and SCADA, efficiency and smart consumption solutions for legal entities, as well as individuals, to support the energy transition – installation of photovoltaic systems and heat pumps, solutions for smart lighting, energy management for smart cities and building management system.
 
How do you see Adrem in 30 years?
 
I believe that the energy transition radically transforms us – from identity, who we are in relation to the environment, to mentality, lifestyle and business model. Coupled with digitization it means a social, economic and even political revolution, because people need strong leadership to guide and inspire them in this process.
 
Adrem started from the very beginning on the path of innovation and noticed opportunities for positive change. Our values ​​are involvement, ambition, responsibility, rigor and respect for all those on whom our activity has an impact. I believe that these are aspects that will not change and will be a basis for a company that will continue to develop sustainably and add value to the environment in which it operates in 30 years from now.
 
How have the financial results evolved in these years? What was the best period for Adrem? But the hardest?
 
We have had good financial results every year and have had steady growth over time, continuously developing our portfolio of products and services. For 2023, we budgeted a consolidated business 20% higher than the estimates for 2022 and we aimed to successfully complete the commitments made to our customers. I rather associate the good periods of our company with the projects that brought us the greatest satisfaction, and the less good periods brought us the most lessons.
 
If I had to choose the most complex contract from a technical point of view, it would be the first liquid steel degassing facility, at COS Târgoviște (which today almost no longer exists), worldwide exclusivity based on the technology patented by my brother. Years of work and testing, dust and dirt, ambition and reality. From the point of view of financial complexity and value, the most complicated contract was the construction of the 30MW cogeneration plant in Suceava. The realization of the SCADA infrastructure at Electrica Transilvania Sud was the contract with the greatest impact in terms of volume, importance in the client’s processes and volume of data. Then the same SCADA system installed at the national gas carrier, Transgaz, for all the transport infrastructure, and the takeover through an outsourcing contract of reading and then measurement and maintenance activities from CEZ Romania had the biggest impact in our organization .
 
I am glad that we had the chance to contribute to the development of Romania’s industrial and energy infrastructure in our 30 years of activity, and for that I am grateful.
 
What do you expect from the authorities?
 
I still expect from the authorities the creation of a predictable environment for businesses and entrepreneurs, transparency and two-way communication in the sense of effective and genuine consultations. Regarding the energy sector, I want the state to invest as much as possible in this field in the coming period and to finance the multiple projects we have from PNRR funds and from other funds available to the Government.
 
Regarding the economic environment, I think now is the time for the state to accelerate effective investments, especially in the construction of highways. In order to do this, the state should urgently revise the legislation on public procurement. The current one is outdated and outdated. Unfortunately, this process takes a long time, therefore, we must quickly enter an area of ​​effective economic cooperation, controlled and verified, between the private environment and state investments.
 
How do you rate the relationship with the banking environment?
 
During our 30 years of activity, we have built a good relationship with the banking environment, we have several banks that we collaborate with and that help us with products adapted to our requirements. Whenever needed, we managed to obtain financing to help us develop the business, support ongoing projects and more.
 
Energy is a continuously developing sector, especially in the current context of the transition to green energy, and is very attractive for financing, and banks play an important role in this process and their support is needed for the longest term.
 
Regarding the economic environment, I think now is the time for the state to accelerate effective investments, especially in the construction of highways. In order to do this, the state should urgently revise the legislation on public procurement. The current one is outdated and outdated. Unfortunately, this process takes a long time, therefore, we must quickly enter an area of ​​effective economic cooperation, controlled and verified, between the private environment and state investments.
 
How do you rate the relationship with the banking environment?
 
During our 30 years of activity, we have built a good relationship with the banking environment, we have several banks that we collaborate with and that help us with products adapted to our requirements. Whenever needed, we managed to obtain financing to help us develop the business, support ongoing projects and more.
 
Energy is a continuously developing sector, especially in the current context of the transition to green energy, and is very attractive for financing, and banks play an important role in this process and their support is needed for the longest term.
 
Read the full interview here