Hidroelectrica posts historic gross profit of over RON 480 M in Q1

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Romanian state-controlled hydropower producer Hidroelectrica ended the first quarter of 2017 with a gross profit of RON 482 million, the highest quarterly profit recorded so far by the company, by RON 100 million higher than the same period last year, profit.ro informs, quoting news.ro.

Hidroelectrica’s general manager, Ovidiu Agliceru, said the company has more than RON 2.7 billion (about EUR 600 million) of cash in banks.

For the first four months of this year, the company estimates a gross profit of RON 600 million. For the full year 2017, Hidroelectrica aims to achieve a gross profit of RON 1.2 billion, on revenue of RON 3.1 billion.

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