Hidroelectrica S.A., a company that is still insolvent, has informed us that in January 2015 its gross profit totalled RON 140 M, being two times higher than the level reported in January 2014. The result is due both to the relatively high level of electricity production, but also to the trend of continuously lowering operational costs.
Remus Borza, the company’s trustee in bankruptcy, offered us more details: “In January 2015, Hidroelectrica produced and delivered 1,590 GWh, up by 36 per cent year-on-year and by 66 per cent compared to January 2013. The production growth trend was also reflected in the evolution of turnover, which totalled RON 322 M, up by 42 per cent year-on-year and by 69 per cent compared to January 2013. The turnover’s rate of growth is the result of implementing a new electricity sale strategy in conditions of competitiveness and transparency.”
The goal of Hidroelectrica’s efforts consists mainly of financial consolidation in order to be listed on the Bucharest Stock Exchange.