The construction sector is the one that delivered the most insolvencies in 2022, according to a survey conducted by Coface. However, for Terano Construct, last year was even better than 2021, with a 54% increase in business, as General Manager Marian Ciupitu stated in the ‘Reinventarea României’ (‘Reinventing Romania’) talk show.

‘I don’t think that the major reliable construction firms, which have been on the market for many years, have had any issues. For us, the year 2022 was a very good year, also due to the fact that many office spaces were delivered. We had a higher turnover, and I believe that these bankruptcies occurred because of the previous years’, explained Marian Ciupitu.
As far as the current year is concerned, the estimations are quite moderate, given also the low level of office building deliveries, since approximately 30% of the company’s activity consists of office space development. ‘This year does not seem to be as good, but it is still early to be sure’, he added.
For the past year, the company reported a 54% increase in turnover, compared to 2021, and the company’s representative reminds of the fact that he was quite pessimistic at the beginning of past year, as well, regarding the evolution of the business. ‘We started the year pessimistically, but, towards its end, we realized that it was a very good year.’ (M.C.)
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