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How do you appreciate the activity of CEO since you have been running the company?
I was committed to changing many things in this company’s activity and we succeeded. As is well known, the position of a company in the economic environment is determined by its turnover and its profit.
With effect from 2017, Oltenia Energetic Complex followed a strong upward trend (the 2017 gross profit was RON 276 million, compared to a loss of about RON 140 million in 2016).
though the company had to pay bank instalments, interests and charges for the loans contracted in order to comply with the European environment directives (amounting to RON 225 million), 23% more than in 2016, and the investment completion rate was around 80%, while in the previous years it used to reach only 30-35%.
Moreover, I am glad to mention a number of positive aspects that we can consider “news” in the life of CE Oltenia:
- 2017 was the first year in
financial results, EximBank changed the financial performance category of our company from D to A;
- we are ranked 19th in TOP 300 COMPANIES and 6th in the top of companies in the energy sector;
- the financing system based on the National Investment Plan has been unblocked, the attracted funds amounted to RON 39 million and we estimate an additional amount of RON 32 million for this year;
- we have implemented the first evaluation system for the staff
Energy security - the strong point of
And the first nine months of this year showed a profit as well. After three consecutive years of loss, the values of the financial indicators were met even
which we had a clear tax certificate every month, meaning we had zero debt to the state budget;
- as a consequence of our
individual performance, with performance targets and evaluation criteria;
- we have managed to achieve the first wage harmonisation and balancing, with the purpose of ensuring fair remuneration for the work performed, according to the individual contribution made to the company’s goals;
- we have implemented the Continuous Improvement concept, which means low-cost projects with high economic impacts (for example, a team of young engineers has obtained for the company the international certification in the SIX SIGMA system). -
In terms of a SWOT analysis of the business that you are managing, what strengths and what threats can be identified?
CE Oltenia has some evident strengths that are well known,
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Sorin Boza, President of the Directorate
of Oltenia Energetic Complex