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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Hidroelectrica’s 9M EBITDA shrinks on lower electricity prices and demand

The earnings before interest, depreciation and amortization (EBITDA) of Hidroelectrica, the largest electricity producer in Romania, shrunk by 19.5% in the first nine months of the year, compared to the same period of 2019, according to the quarterly financial report of local investment fund Fondul Proprietatea (FP), quoted by Ziarul Financiar. FP owns 20% in the state-controlled hydropower group.

Hidroelectrica's EBITDA was RON 1.92 billion (EUR 395 million) in nine months of 2020, 19.5% lower compared to the same period last year.

However, the company's net profit edged down by only 4% to RON 1.26 bln (EUR 258 mln).

The drop in EBITDA resulted from lower deliveries and lower prices - both reflecting subdued demand.

In the first nine months of 2020, Hidroelectrica sold 10.87 TWh of electricity, 9.7% less than in the same period of 2019.

The average selling price of electricity also decreased by 9% to RON 205.3 (EUR 42.2) per MWh.

Thus, the company's turnover shrank by 16% in January-September compared to the same period last year, to RON 2.8 billion (EUR 575 million).

Fondul Proprietatea estimates the value of its 20% stake in Hidroelectrica at RON 4.7 bln (just under EUR 1 bln) at the end of September, which means that the whole state-owned company is valued at RON 23.5 bln (EUR 4.8 bln).

(Photo: Lovelyday12/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Hidroelectrica’s 9M EBITDA shrinks on lower electricity prices and demand

The earnings before interest, depreciation and amortization (EBITDA) of Hidroelectrica, the largest electricity producer in Romania, shrunk by 19.5% in the first nine months of the year, compared to the same period of 2019, according to the quarterly financial report of local investment fund Fondul Proprietatea (FP), quoted by Ziarul Financiar. FP owns 20% in the state-controlled hydropower group.

Hidroelectrica's EBITDA was RON 1.92 billion (EUR 395 million) in nine months of 2020, 19.5% lower compared to the same period last year.

However, the company's net profit edged down by only 4% to RON 1.26 bln (EUR 258 mln).

The drop in EBITDA resulted from lower deliveries and lower prices - both reflecting subdued demand.

In the first nine months of 2020, Hidroelectrica sold 10.87 TWh of electricity, 9.7% less than in the same period of 2019.

The average selling price of electricity also decreased by 9% to RON 205.3 (EUR 42.2) per MWh.

Thus, the company's turnover shrank by 16% in January-September compared to the same period last year, to RON 2.8 billion (EUR 575 million).

Fondul Proprietatea estimates the value of its 20% stake in Hidroelectrica at RON 4.7 bln (just under EUR 1 bln) at the end of September, which means that the whole state-owned company is valued at RON 23.5 bln (EUR 4.8 bln).

(Photo: Lovelyday12/ Dreamstime)

[email protected]

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