Hidroelectrica’s profit doubles in Jan-Sep on higher output and price

16 November 2021

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)

andrei@romania-insider.com

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Hidroelectrica’s profit doubles in Jan-Sep on higher output and price

16 November 2021

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)

andrei@romania-insider.com

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