Hidroconstrucția distributed 16 Million Euro to creditors and closed 2024 with profit

INFINEXA, a Romanian entrepreneurial company specializing in the restructuring and financing of distressed businesses, managing assets worth over 155 million Euro, announces that in 2024, Hidroconstrucția, a company undergoing insolvency proceedings, distributed over 16 million Euro to its creditors. Of this amount, 10.7 million Euro came from asset sales, while 5.3 million Euro was generated through ongoing operations.

“In insolvency proceedings, such payments are typically made when companies are in reorganization or bankruptcy. Thanks to the successful mediation of negotiations between the debtor company, the investor shareholder, and the financing banks, we managed to propose measures to protect secured claims and distribute funds collected from ongoing contracts, which had been pledged as collateral by the banks. As a result, we distributed significant amounts to creditors while Hidroconstrucția was still in its observation period. Moreover, the company closed 2024 with a profit, securing a solid foundation for restructuring,” stated Adrian Lotrean, founder of INFINEXA and judicial administrator of Hidroconstrucția S.A.

Preliminary financial data indicate that Hidroconstrucția recorded a profit of over 3.1 million Euro in 2024, marking the first time in six years that the company has ended the financial year with a profit. The last profitable year was 2019, when the company reported a net profit of 700,000 Euro.

In 2024, Hidroconstrucția’s creditors’ assembly approved the sale of non-essential assets worth 65 million Euro to reduce operating costs and enable debt repayments. The assets put up for sale include real estate properties, equipment, and various shareholdings in other companies. These assets are being liquidated through auction procedures organized by the judicial administrator, in compliance with legal requirements.

During the most recent auction session, held between February 17 and 21, 2025, assets worth over 6.5 million Euro were put up for sale. Among them, certain assets with a market value of 1.8 million Euro were successfully sold for over 3 million Euro.

Hidroconstrucția S.A., Romania’s largest contractor in the hydro-energy sector, voluntarily filed for insolvency on January 19, 2022, due to debts exceeding RON 500 million. The company’s judicial administration was entrusted to a consortium formed by INFINEXA Restructuring and Mușat & Asociații Restructuring Insolvency SPRL. Currently, the company remains in its observation period, ahead of the proposal of a reorganization plan.

Founded in 1950, Hidroconstrucția S.A. is a privately owned Romanian company, recognized as the primary builder of the country’s major hydroelectric projects. The company is currently involved in hydro-energy developments such as Livezeni – Bumbești, Răstolița, and Buzău – Siriu – Surduc, as well as other infrastructure projects.