Hidroconstructia distributed EUR 16 million 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 EUR 155 million, announces that in 2024, Hidroconstructia, a company undergoing insolvency proceedings, distributed over EUR 16 million to its creditors. Of this amount, EUR 10.7 million came from asset sales, while EUR 5.3 million 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 Hidroconstructia 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 Hidroconstructia S.A.   Preliminary financial data indicate that Hidroconstructia recorded a profit of over EUR 3.1 million 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 EUR 700,000.   In 2024, Hidroconstructia’s creditors’ assembly approved the sale of non-essential assets worth EUR 65 million 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 were put up for sale. Among them, certain assets with a market value of EUR 1.8 million were successfully sold for over EUR 3 million. Hidroconstructia 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 Musat & Asociatii Restructuring Insolvency SPRL. Currently, the company remains in its observation period, ahead of the proposal of a reorganization plan.   Founded in 1950, Hidroconstructia 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 – Bumbesti, Rastolita, and Buzau – Siriu – Surduc, as well as other infrastructure projects. (Photo:https://hc.ro/)