Hidroelectrica’s profit fell to RON15.7 million in 2011, from over RON292 million in the previous year, hit by prolonged dry weather.
“The net profit is estimated at RON85 million to RON100 million in 2012, a normal result for non-draught periods,” Hidrolectrica’s general manager Dragos Zachia said Tuesday.
Speaking at an energy seminar organized by Ziarul Financiar, Zachia said total sales are expected to remain at around RON3 billion in 2012, similar to last year’s figure.
Power output is estimated at 15.5-15.7 TWh, below the company’s average annual production of 17 TWh.
Romanian Economy Ministry owns 80.05% in Hidroelectrica, while investment fund Fondul Proprietatea (FP.RO) has 19.94% of its shares. The ministry plans to launch a public offering of 10% in the company by the end of October. (EUR1=RON4.348)