Romania’s biggest electricity producer, state-owned Hidroelectrica, expects a gross profit of over RON 2 billion (EUR 430 million) this year, its best result ever.

However, even with this result, the company still hasn’t reached its potential, according to Bogdan Badea, president of Hidroelectrica’s Executive Board, local Ziarul Financiar reported.

“We have beaten all records. In the first nine months, we had revenues of RON 3.2 billion (EUR 688 million - e.n.) higher than those for the whole 2017, and the gross profit reached RON 1.98 billion (EUR 426 million – e.n.), compared to RON 1.6 billion for the whole last year,” Badea said.

The Romanian state holds an 80% stake in Hidroelectrica. The remaining 20% is in the portfolio of investment fund Fondul Proprietatea.

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editor@romania-insider.com