Thus, Hidroelectrica registered a gross profit margin of nearly 47%, up from 39% in January-June 2015. The company’s gross profit rose 4% to RON754 million (EUR167.5 million) in the first six months of the year.
In January-June, Hidroelectrica reported sales of RON1.61 billion (EUR360 million), down 13% from the year-earlier period.
“The profit was registered given a lower production and a decreasing energy price, so that it was the effect of restructuring policies,“ according to Remus Borza, the representative of Hidroelectrica’s former legal administrator Euro Insol.
Hidroelectrica went insolvent in June 2012 after it had sold electricity outside the energy exchange at prices below market levels. The company was court-ordered into a second insolvency process in February 2014, less than eight months after completing a one-year reorganization process.
In June 2016, Bucharest Court ruled on the exit from insolvency of Hidroelectrica after a four-year insolvency process.