A study on the energy sector made by ICAP Romania found that between 2012 and 2013 more than 50% of the companies within Power, Gas, Steam and Air Conditioning Supply sector maintained their credit risk however out of them 15% recorded high credit risk. The study analyzed corporate companies and SMEs companies that registered profit, with a turnover greater than 200,000 euro and at least 1 employee.
Out of the 84 companies maintaining their credit risk, more than half (53.57%) recorded low credit risk, showing the stability and growth of this industry. The interesting discovery is that the number of companies that improved their credit risk is the same with the companies that decreased their risk.
50 corporate companies maintained their credit risk between 2012 – 2013
Among the group of large corporations, ICAP notices stability, as comparing 2012 and 2013, the number of big companies that have not changed their credit risk is superior to those which have increased or decreased their risk. 50 corporate companies maintained their credit risk between 2012 – 2013 and out of those 76% recorded low credit risks. Only 11 companies improved their credit risk in this area. The study also shows the growth of large corporations in turnovers, by a large percentage of 16% in the zone of companies with turnover larger than 100 million RON.
Regarding the SME segment, the risk zone is much higher and it is deteriorating over time. 34 SMEs maintained their credit risk between 2012-2013, and out of them only 7 (20%) recorded low credit risk. Only 16 companies improved their credit risk, while 18 companies increased their credit risk.
The indebtedness ratio calculated for corporate companies decreased by 21.54% from 2011 to 2012
The indebtedness ratio calculated for corporate companies decreased by 21.54% from 2011 to 2012, from 0.59 in December 2011 to 0.46 in December 2012. On the same time, the indebtedness ratio calculated for SMEs companies increased by 7.89, from 2.7 in December 2011 to 2.91 in December 2012. The highest Average value of Indebtedness Ratio (13.28) was recorded by companies with Turnover between 1.5 million lei and 3 million lei.
On both tracks, Electrica Furnizare (Corporate) and Megaconstruct SA (SME) reported the highest value of turnover. The highest values of EBIT were recorded by Renovatio Solar on the SME track and Enel Energie on the Corporate track.
Unicredit Țiriac Bank is the largest creditor of this sector
Highest number of employees in SME – Uzina de Agent Termic și Alimentare Motru (177)
Highest number of employees in Corporate – E.ON Gaz Distribuție (3,738)
In regard to business financing, a subject in the top of discussions in the Energy Sector, the study found that the top 10 creditors represent 89.30% of the total active real securities of the entire Electricity, Gas, Steam and Air Conditioning Supply Sector. UnicreditȚiriac Bank is the first creditor of this sector, followed by the Ministry of Public Financing and Romanian Commercial Bank (BCR).
ICAP Group is one of the most successful Business Information Groups in Southeastern Europe with a strong presence in Romania, Greece, Bulgaria, Serbia ,Cyprus and Turkey. ICAP Romania is specialized in providing Credit Risk services helping companies and banking-financial institutions to identify and better manage the risk involved in commercial transactions. ICAP Group is recognized as Credit Rating Agency by ESMA (European Securities and Markets Authority) and is the exclusive partner of Dun & Bradstreet in Romania, Bulgaria and Greece.