It now expects a net profit of RON4.15 billion, 14.2% lower than previously approved and 34.4% lower than last year’s net profit, ZF calculated.
The revision of the Hidroelectrica’s spending and revenue budget is due to “the recent influence, unprecedented and significant, of certain legislative changes and external factors that are affecting the financial position of the company,” Hidroelectrica said in a report.
Hidroelectrica therefore expects a revised gross profit of RON5 billion, total revenue of RON10.3 billion and total expenses of RON5.3 billion. The expected revenue is therefore 5.4% lower than in the budget already approved and 15.6% lower than last year.
The total operating revenue was revised downwards by 6% from the initially approved level because of the drop in the average electricity sale price by 12%, offset by an increase of 4% of the amount of electricity expected to be sold in 2024, the company said in its report.
(English version by Loredana Fratila-Cristescu)