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Hidroelectrica targets EUR 300 million profit for 2015

Published

April 20, 2015

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Published:

April 20, 2015

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Gross profit of RON 405 million (EUR 91.8 million) was recorded by Hidroelectrica, Romania’s largest electricity producer, in Q1, more than twice the sum from the company’s best year – 2014, when it reported RON 178 million in the first three months, Business-review.eu portal said. The results were due mainly to the high generation, where it produced and delivered 4,711 GWh, up 37 percent compared to the 3,443 GWh in the same period last year.

„We have created the premises of an exceptional year for Hidroelectrica in 2015, and if the hydrological regime will be similar to the one registered last year, we estimate a production of at least 18 TWh and a profit of over EUR 300 million,“ said attorney Remus Borza, the representative of Hidroelectrica’s judicial administrator Euro Insol.

The state-owned company, currently in bankruptcy, sold three micro hydropower plants at the end of March, from a total of 33 units auctioned for RON 5 million (EUR 1.1 million), the portal reported. One of the hydropower plants was bought by Three Pharm in Târgu Mureș for RON 1.4 million, while the other two units were purchased by the Italian company Geo Service Italia for RON 3.6 million, according to Mediafax.

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