Thus, the company in which the Romanian state holds the majority stake, of 80%, reported RON2.4 billion turnover, up 66% from the year-earlier period, while net profit climbed by 70%, to RON1.3 billion.
During the period, total electricity sold by Hidroelectrica hit 3.20 TWh, down by 30.0% from the same period of last year. The average sale price stood at RON655.4/MWh, up by 134.3% from the year-earlier period.
At the end of March 2022, the company’s cash position stood at RON4.85 billion.
ZF on Friday wrote that Hidroelectrica is valued at RON57 billion (EUR11.5 billion) by its minority stakeholder Fondul Proprietatea in its latest report for April, up by RON7.3 billion (EUR1.4 billion) from the March 2022 assessment.
On April 28, the Energy Ministry, as a majority stakeholder, and Fondul Proprietatea, with a 20% stake, approved the distribution, by Hidroelectrica, of RON3.8 billion as dividends.
Hidroelectrica, Romania’s biggest electricity producer, and also the most profitable state-owned company, has for 2022 budgeted total revenues worth RON7.4 billion, up 11% from 2021, while net profit is projected to reach RON2.9 billion, down 8% from the RON3.16 billion generated in 2021.
(English version by Catalina Apostoiu)