The National Mineral Waters Company recorded losses of 4.27 million lei in 2025, amid debts and management problems

The National Mineral Water Company SA (SNAM), the state-owned company that manages extraction licenses and sells mineral water to bottlers, recorded losses of 4.27 million lei in 2025, for the first time since 2005. The situation comes as Romania holds approximately 30% of Europe’s natural mineral water reserves, while SNAM has a dominant position on the market.

The company’s turnover was nearly 50 million lei, although a profit of 3.2 million lei had been projected. At the same time, its debts reached 10.8 million lei, the highest level since 2015, while the number of employees increased. SNAM attributes the result to the retroactive increase in royalties, delays in updating prices, and the continuation of expenses above revenue levels.

A G4Media investigation, based on public documents and information provided by a whistleblower, points to problems involving security contracts, the procurement of laboratory analyses, sanctions, and administrative delays. It also cites successive political appointments to management positions, as well as a dispute with Romaqua Group worth 24 million lei, which could increase the risk of insolvency. The company rejects the accusations and maintains that its financial situation will recover.