From February, Carmen Neagu took over the EnergoBit management, a group of companies active in the design, engineering and management of energy projects, from the position of CEO of the Group. Former member in Transelectrica’s management, in the Board of Directors and the Supervisory Board, Carmen Neagu explained for energynomics.ro her objectives and new challenges: turning EnergoBit in one of the most important companies in Central and Eastern Europe, based on growth strategy.

Dear Mrs. Carmen Neagu, you have an exceptional career behind, in the most important national and international energy companies. What are the challenges of moving to a company such as EnergoBit and what strategy moves should we expect from now on?

EnergoBit is active in a dynamic market, where the main challenge is represented by the quality of services and the rapidity with which they are offered. Thus, I wish to consolidate the company’s position in the market in the electricity transmission and distribution segments, but I think there’s still room for growth here. At the same time, the industrial segment provides important opportunities, from which I want to take advantage and increase the number of such clients. Another direction for development is that of international activity, where EnergoBit has had numerous projects, and the experience and know-how accumulated so far give us an important point of differentiation compared to other possible competitors.

Briefly, my strategy is based on growth: of the rapidity with which we respond to requests we receive, of the quality of services and products and, thus, of the customer base.

There are also challenges related to company’s internal organization. Specifically, it’s about the process of transformation and adaptation to market conditions, but also the modality in which we manage to meet the requirements from increasingly sophisticated customers. But such situations are normal in any company that wants to develop making the best of a particularly important resource available for the company: human capital.

EnergoBit Group is active in several lines of business. Will you focus equally on all of them or allocate group’s resources to more profitable market segments? What are the sub-sectors that currently bring the largest revenues for the group?

EnergoBit’s customers are equally important and treated with equal attention, regardless of the market segment where they come from. It is true however that there are market segments in which the company has been active for a long time, with very good results, so there is some ease in addressing the electricity transmission and distribution sector. Therefore, we want to pay more attention to the energy generation sector, the industrial segment and international opportunities.

Currently, the largest part of company’s revenues are generated by the activity as contractor for electrical and generation works, some of the most important projects completed in 2015 being a biogas cogeneration plant in Tulcea County, a photovoltaic plant in Iași County, Miroslava, a wind farm in Tulcea, Babadag. The following activities with significant value in group’s turnover are represented by the production of equipment, electrical engineering and energy services, especially maintenance.

Do you have plans for the development of new products or services or the priority is to streamline the existing lines?

We want to permanently bring new products and services in the market, in order to better differentiate ourselves from our competitors. Company’s production facilities hold an important place in the organization of the company, and this segment also has great potential for development. We currently work on the development of new products which we want to launch in the market in the first half of the year. In terms of services offered, we currently focus on streamlining the existing lines of business and attracting new customers.

Does Romania have enough market potential, given that large investments in the field are lacking almost completely?

Indeed, we cannot rely yet on large investments in energy generation, but there is an increase in investments in the transmission and distribution segments, and the industrial area shows potential. It’s up to us, our power of persuasion, to increase the revenue generated by industrial companies at levels that can compensate for lack of investment in new electricity generation units. For this purpose, we wish to continue the development of partnerships with companies in related fields, to be able to provide turnkey solutions, appropriate to the new requirements of efficiency and flexibility in the field of generation, but also in traditional fields for EnergoBit’s activity, of electricity transmission and distribution.

You have recently mentioned that one of the objectives of your mandate is orientation towards foreign markets. Have you identified the main markets and products or services that can be successfully offered?

As I said before, my personal objective is to turn EnergoBit, in a first phase, into one of the most important companies in Central and Eastern Europe. Thus, in Romania’s neighboring countries I have noticed a trend of investment development in energy generation, transmission and distribution segments, therefore we are very attentive to any opportunity that may arise.

We also take into account the development of a constant presence in countries in Eastern Europe, but also in Central Asia and the Middle East, and, in perspective, North Africa. We continue to participate in tenders in markets where we have projects, such as Hungary, Serbia, Bulgaria, Montenegro, Moldova and Macedonia (FYROM), but we monitor any other development opportunities in the geographical areas mentioned.

Do you believe that EnergoBit group can successfully pursue listing on the local stock exchange or on one of the major European stock exchanges? Are there intentions for something like this, or the group can finance itself as well from own sources and banks?

The decision of possible listing on the stock exchange belongs entirely to shareholders and it will definitely take into account both the results of the company and market trends. Currently, the company’s activity is financed from own resources and, if needed, we resort to bank financing.

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The full version of this article can be read in printed edition of energynomics.ro Magazine, issued in March 2016.

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