Hidroelectrica achieves an all time high net profit of RON 1.36 bn in 2017

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Hidroelectrica, Romania’s largest energy producer, recorded a net profit of RON 1.36 billion last year, the highest level in company’s history, digi24.ro informs.

In 2016, the Hidroelectrica’s net profit was RON 1.228 billion. At the same time, in the first quarter of this year, Hidroelectrica had a net profit of RON 485 million lei, compared to RON 399 million in the same period in 2017, due to the improved hydrological situation.

EBITDA margin grew from 67 percent in 2016 to 69 percent last year and 74 percent in this year’s Q1.

“This winter was a time when we even provided over 50 percent of the total energy consumed nationwide,” Hidroelectrica management said.

Moreover, Hidroelectrica plans to buy wind and photovoltaic parks in the country, as well as other energy companies abroad.

”We are in due diligence with several wind farms. We are interested in diversifying our sources of production and we look especially at green energy as it complements our portfolio,” Bogdan Badea, General Manager Hidroelectrica said in a press conference.

At the same time, he expressed the skepticism about floating a 10 percent stake in the company’s shares this year on Bucharest Stock Exchange (BVB).

“The listing must happen, but it must be done after we will have a well-developed plan to know what to do with those money that will enter the company,” Badea explained.

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