Hidroelectrica’s profit doubles in Jan-Sep on higher output and price
Romanian state-controlled hydropower group Hidroelectrica, in the process of diversifying its production base to include new renewable resources, reported a record net profit of RON 2.65 bln (over EUR 0.5 bln) in January-September this…
Andrei Chirileasa · Journalist
· Updated · 1 min read
Romanian state-controlled hydropower group Hidroelectrica, in the process of diversifying its production base to include new renewable resources, reported a record net profit of RON 2.65 bln (over EUR 0.5 bln) in January-September this year, more than double (+103%) compared to the same period last year.
The company’s revenues increased by 70% YoY as the sales from own production expanded by more than a quarter (+26.5% YoY) to 13.61 TWh and total sales by 18.1% YoY to 14.01 TWh.
Furthermore, the average realised electricity price rose by 48% YoY to RON 305 (EUR 60) per MWh.
Hidroelectrica’s EBITDA increased by 87.4% YoY to RON 3.61 bln while its operating profit more than doubled (+111% YoY) to RON 3.11 bln, according to a report of Fondul Proprietatea, which owns a 20% stake of Hidroelectrica, quoted by Economica.net.
(Photo: Hidroelectrica Facebook Page)
