Hidroelectrica’s gross profit, up 6 pc in the first seven months

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Romanian state-controlled hydropower producer Hidroelectrica registered a gross profit of RON 971.88 million in the first seven months, up 6 percent year-on-year, according to data released on Tuesday by the company on Facebook.

For the same period, the turnover amounted to RON 1,948 billion, while the net profit increased from 38 percent on 31 July 2016 to 43 percent on 31 July 2017.

”The tough restructuring and streamlining process through which the company passed in recent years, it has made Hidroelectrica the most profitable company in Romania in the first seven months of 2017, with an EBITDA of 69 percent of turnover,” the data show.

Hidroelectrica officials say that during June 30, 2012- July 31, 2017, the improvement in the net cash flow from the negative – RON 763 million to the positive level of RON 1,731 billion was generated by the significant operating receipts and repayments made on the credit lines.

In July, Romanian hydropower producer distributed to the shareholders dividends related to the profit obtained in 2016 amounting to RON 1.036 billion.

The actual number of staff on July 31 was 3,292 employees.

On 31 July, the total output of 8,768 TWh was obtained in the 207 hydro power plants, including five energy-pumping stations, with an installed capacity of 6,382 MW.

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