Gross electricity production fell 3% to 4,403 GHW, according to the financial report published on the Bucharest Stock Exchange on Tuesday evening. Hidroelectrica has a capitalization of RON60.8 billion.
“Hidroelectrica Group records a decrease in operational and financial results for the first three months of 2024 compared with the same period in 2023, in line with the approved budget. The Group’s operating margin and net margin decreased by 2% and 1%, respectively, compared to the similar period in 2023, mainly due to the decrease in electricity selling prices (both locally and in the interconnected European market) and the quantity of electricity sold,” the report said.
The results achieved in the first quarter of 2024 reflect the expectations set out in the approved 2024 Budget. Operating margin stood at 59%, down 2% from the same period last year, Hidroelectrica notes. Net margin was 52%, down 1%.
(English version by Loredana Fratila-Cristescu)