The major companies in Romania stayed in the black in 2009,which was most likely the hardest year for the Romanian economy,except for the ArcelorMittal Galaţi steel plant, held by Indianbillionaire Lakshmi Mittal, which posted 334 million-euro (1.4billion-RON) losses and Tarom, whose losses stood at 56 millioneuros (234.7 million RON).
Even companies in such sectors as consumer goods and automotive,where consumer spending decline was obvious, still made profit,despite having their income eroded by the bad economy.
Cumulated, the top 300 profit makers generated 40 billion-RON (9.5billion-euro) income, more than in 2008, according to ZF'scalculations based on the information available at the TradeRegistry.
Crisis winners in terms of profit can be considered constructioncompanies Spedition UMB and Romstrade, controlled by DorinelUmbrărescu and Nelu Iordache, the so-called "asphalt kings" thatmanaged to boost results at a time when their respective marketscollapsed. Companies such as RCS&RDS (telecom) of ZoltanTeszari and Fondul Proprietatea (Property Fund), too, posted heftyprofits, of more than 200 million euros.
"I don't think any sector will be able to preserve profit marginsas they were at the onset of the crisis, since pressures caused byconsumption decline are all-encompassing. Only the monopolisticsectors or those receiving disguised protection from regulatorswill be able to maintain profitability," believes Doru Lionăchescu,main partner of Capital Partners consultant.
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