The restrictive operating context, marked by unfavorable hydrological conditions, led to a 23% decrease in net electricity production compared to the same period of the previous year and partially eroded the cost advantage of own-generation.
Net electricity production plunged 23% to 8.473 GWh and total electricity sales dropped by 14% to 10.130 GWh in the first nine months of 2025 compared to the year-earlier period.
Revenues amounted to RON6.698 million, decreasing by 7% compared to the same period of 2024, with an operating margin of 39% and a net margin of 35%, reflecting a decrease in the traditional competitive advantage derived from the low cost of own hydro production, per data from Hidroelectrica.
These developments reflect a reconfiguration of the revenue structure, with an increasing contribution from the supply segment.
Net profit decreased by 34% in January-September 2025 to RON2.314 million from RON3.532 million in the same period of 2024.
“Hidroelectrica Group applied a prudent commercial policy, actively managed price and volume risks, and dynamically calibrated the production–procurement mix, maintaining a solid financial position and results aligned with the revised budget approved on 31 October 2025. The supply portfolio expanded rapidly, confirming the Group’s repositioning toward a hybrid model with a stronger commercial anchor and a broader customer base. Market purchases increased, with market risk managed through phased contracting and commercial discipline. Robust liquidity and low leverage enable the financing of the investment plan. Operational efficiency, optimization of the production–procurement mix, development of RES and storage projects to reduce the structural exposure to hydrological variability and strengthen long-term resilience, as well as predictability in governance, remain key priorities for the Group going forward,” the report reads.
“In the first nine months of 2025, the Group delivered results in line with the revised budget, approved on 31 October 2025 and adjusted to the new market conditions, with gross profit exceeding the target by 5%. This demonstrates the Group’s resilience and ability to sustain performance in the context of challenging market environment,” the report also shows.
The company has a market capitalization of RON54.3 billion.