Hidroelectrica officials said the amount of power generated in the first quarter of the year during a severe hydrologic shortage stood at 2,554 GWh compared with the same period in 2011, when the output reached 4,864 GWh because hydrologic conditions were much better than the multiannual average. They did not say anything about the trend of the financial indicators for that period.
The production trend in the first quarter comes at a time when weather conditions significantly hurt the financial indicators of Romania’s most valuable asset in 2011, as Hidroelectrica ended last year with merely 6 million lei (EUR1.3 million) in net profit, almost 50 times lower than the 2010 profit. A company with a market value of almost EUR3.5 billion and more than EUR714 million in revenue in 2011 operated at a profit margin of 0.2% in 2011, while the power output was 26% lower.
(English version by Loredana Fratila-Cristescu)