Hidroelectrica posts record 2021 earnings ahead of listing expected later this year
Hidroelectrica, the largest electricity producer in Romania, reported record results for the financial year 2021 on the back of high electricity prices and the large amount of electricity produced, Fondul Proprietatea (FP), the sole minority shareholder of the state-controlled energy company, revealed, quoted by Economica.net.
In 2021, the value of Hidroelectrica soared by 76.3%, Fondul Proprietatea estimates.
According to FP, the company's turnover increased last year by about 65%, to RON 6.4 bln (EUR 1.28 bln) and the profit before depreciation, amortization, and taxes (EBITDA) surged by 71 % compared to 2020 to RON 4.6 bln (EUR 920 mln).
FP has not revealed Hidroelectrica's net profit, though.
During the period, the total electricity sold by Hidroelectrica was 17.12 TWh, 7.1% more compared to 2020.
The electricity sold from its production reached 16.51 TWh, 13.1% more compared to2020. The average selling price of electricity was RON 336.9 per MWh, 57.5% more compared to 2020.
(Photo: Hidroelectrica Facebook Page)