1,174 local state companies, with a profit a quarter of that of the 146 central ones
The official AMEPIP report for 2024 shows a performance chasm between central public enterprises and those under local authorities.
The ROptimizaRE editorial team · 5 min read · updated 15 October 2026
In short
- Romania has 146 central public enterprises and 1,174 local ones, 8 times as many at local level[1]
- In 2024 the 146 central ones made a net profit of 14.51 billion lei; the 1,174 local ones only 1.25 billion, even though they are eight times more numerous[1]
- Central enterprises also recorded losses: 1.59 billion lei, mainly from a few chronically loss-making sectors[1]
- The sectors with the worst return on equity: trade (−116.77%) and agriculture (−34.43%)[1]
A portfolio of more than 1,300 companies
The Romanian state is majority or sole shareholder in 1,320 public enterprises: 146 at central level (ministries, central authorities) and 1,174 under town halls and county councils: water utilities, district heating, local transport, waste collection. The annual report for 2024 of the Agency for the Monitoring and Evaluation of Public Enterprises' Performance (AMEPIP) compares them directly[1].
| Indicator | 146 central | 1,174 local |
|---|---|---|
| Turnover | 73.17 bn lei | 20.96 bn lei |
| Net profit | 14.51 bn lei | 1.25 bn lei |
| Equity | 110.51 bn lei | 10.07 bn lei |
| Employees | 108,481 | 93,794 |
The central companies are almost 10 times fewer, but generate a turnover more than 3 times larger and a profit almost 12 times larger. The number of employees is close between the two categories (108,481 versus 93,794), which means that the revenue produced per employee is much lower at local level[1].
Where the losses appear
Cumulative net loss, central public enterprises, 2024
1.6bn lei
Year 2024 · source[1]
The sum represents the cumulative losses of the loss-making central enterprises, kept separate from the profit of the profitable ones; the two do not offset each other in the reporting.
The analysis by sector shows where the losses come from. The sector “Wholesale and retail trade; repair of motor vehicles” recorded an ROE (return on equity) of −116.77%, a rapid erosion of capital. Agriculture, forestry and fishing had an ROE of −34.43%. At the other end, manufacturing had an ROE of 32%, and the energy sector generated almost half of the portfolio's total net profit[1].
Corporate-governance reform, interrupted
In 2011 Romania adopted a corporate-governance framework for state companies (Emergency Ordinance 109/2011), which required boards of directors selected professionally, not politically. But Law 111/2016 exempted a large part of state companies from applying these rules, and the depoliticisation of boards of directors remains a commitment made through the NRRP[1].
Sources
Primary official sources; where we use the press (only when the official document is not public) we mark it. The links lead to the original document or to the report cited (titles are translated; the documents themselves are in Romanian unless stated).
- [1]
Agency for the Monitoring and Evaluation of Public Enterprises' Performance (AMEPIP) — Annual report on the activity of public enterprises for 2024 (in Romanian) (sections 1.2.1 (aggregate results of central/local public enterprises) and 2.1.2 (financial indicators of central public enterprises))
Published 1 October 2025 · Accessed 15 October 2026 · the original document(opens in a new tab)
This is a translation of the Romanian article, which prevails. Source titles are translated for convenience; the documents themselves are in Romanian unless stated.