Hidroelectrica, the largest energy producer in Romania, closed 2012 with a record loss of € 114 million euro. The reasons to accounting for that would be two drought years and the damaging contracts signed by the wicked entrepreneur who have bankrupted it.
There are good news though. In the first quarter of 2013, Hidroelectrica registered over 100 € million Euros in profits.
Oltchim Râmnicu Vâlcea was not as lucky. The chemical plant closed 2012 with a registered loss of € 126,5 million Euros.
Losses were recorded in the first six months of the year too, the chemical plants reporting a deficit of over €30 million.
Staff cost also decreased after 1,000 employees were made redundant.
The situation is equally difficult for CFR passengers. The company has gotten to the point of losing € 222.6 million in one year.
The company managers hope to improve the situation this year and limit losses to 90 million.
Even so, every company director who brought his company into deficit has never been held accountable so far.