Romania’s power producer Hidroelectrica, which is still under insolvency, has increased its gross profit by over 15% in the first eight months of the year, to some EUR 183 million.

Its turnover rose by 3.7% year-on-year to EUR 512 million, even if the company’s energy sales dropped by 2.6% during this period, to EUR 473 million, reports local Profit.ro.

Hidroelectrica’s total expenses fell by 1.5% to EUR 340 million, as the tax expenses dropped by 31% year-on-year.

The number of employees went down to about 3,480 at the end of August, compared to some 3,700 last year. When the company entered insolvency in 2012, it had over 5,200 employees.

editor@romania-insider.com