Forbes Romania asked some of the most important managers and entrepreneurs to answer a short questionnaire in a complicated moment from all points of view: economic, social, and geopolitical. Because, in the end, despite the difficulties, business and life lessons remain. Answers from Florin Frunză, CEO of MET Romania
Original article in Romanian: Forbes Romania
What is the word that best characterizes the year 2024?
The word that best defines 2024 is “resilience”. 2024 was not without challenges, as was the previous period. But 2024 was also a year of positive signs, of comeback, recovery and regaining trust. In particular, for MET Romania it was a year of consolidating strong and lasting partnerships. The principles on which we build our activity are transparency, trust and respect – and during this year we focused on developing lasting collaborations, which bring an obvious benefit of predictability in the business environment.
What were your concerns for the business you run in 2024? What are the results of the company's activity, compared to the estimates at the beginning of the year?
I believe that the concerns were related to three important aspects in our field of activity - namely the continued lack of liquidity on wholesale markets, increasing volatility in electricity prices and ensuring a stable and affordable supply for our partners. It was a complicated year from these points of view as well, especially since in Romania, but not only, it was also an election year, with all that this entails. We are at the end of the year and I can say that the results are in line with those anticipated, which is also a good indicator that underlines our analytical capacity. We hope that we can continue on the same note going forward because the energy sector needs a period of stability after the tensions of recent years. Thus, security of supply and offering efficient and predictable solutions were our main priorities for 2024.
How have the overlapping crises, the geopolitical situation (the continuation of the war in Ukraine and the outbreak of the conflict in Israel) and the prospect of the electoral rounds influenced your company’s activity?
The last few years have fully tested the resilience of the team, but it is now clear to us that the strategic direction we followed, as part of MET Group, was a very good one. These crises have had a significant influence on our activities, energy being one of the most sensitive markets to regional and international tensions. I think everyone has seen the spectacular evolution of energy costs in the last year and a half, and our efforts have been consistent to respect our commitments to partners, a fundamental thing for MET. However, all these crises also have had a positive element, namely educating the market about contracts and the importance of predictability in a volatile business environment. And I can proudly say that in this regard MET Romania is one of the market leaders, all our partners know that we will do everything possible to respect our commitments.
What are the strengths and weaknesses of the Romanian business environment in the current social and economic context?
I think we can discuss a number of strengths of the Romanian business environment that no one can deny. First of all, we are part of the big European family, we are interconnected and have easy access to integrated markets and common resources. This allows us to find solutions to complex situations and support each other. The Romanian market is maturing every year, and I hope that we will start to see more and more signs of growth.
As for the weaker points, I believe there is room for improvement in terms of legislative and fiscal predictability to facilitate long-term planning. Also, bureaucracy and regulations in the field are issues that need to be urgently addressed to support sustainable economic development.
Now, at the end of a complex electoral year, what expectations do you have from the Romanian authorities?
As usual, election periods are marked by economic relaxation and we know from experience that after these periods, more tense ones follow. Our expectations remain constant: we want a predictable fiscal framework, clear regulations and firm support for the energy sector, especially in the direction of the transition to renewable sources. It is essential that the authorities understand their role as a partner of suppliers in this process and collaborate closely with us to create an environment conducive to economic development. MET Romania is ready to contribute to this common effort and support initiatives that have led to increased competitiveness of the energy sector.
What are the 3 main points of your business strategy for next year?
Looking to 2025, our strategy remains aligned with MET Group’s direction, focusing on strategic investments, expanding our customer portfolio and renewable energy assets. Digitalization and innovation will play a central role, with investments in advanced technologies to optimize processes and increase efficiency. At the same time, increasing our position on the local market and developing long-term partnerships are strategic priorities. Relationships based on transparency and respect continue to be the principles from which we do not deviate, allowing us to offer customized solutions that respond to market challenges and support partners in achieving their objectives.
What do you think will be the biggest challenges worldwide, but also for the industry in which you operate, in 2025?
I believe that at a global level we will need to follow geopolitical developments very carefully. In the energy sector, there is a continued need for investments that increase the stability and resilience of the energy system in parallel with the development of renewable energy sources and alternative energy sources, such as hydrogen. The overall goal is a competitive market where customers can find the products and solutions they need to grow their businesses.