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January 18, 2022
COMPANIES ECONOMY ENERGY

Hidroelectrica hydro-electric power maker posts 709.2 million lei in 9 month profit

The Romanian largest power maker Hidroelectrica, currently in insolvency, made 709.2 million lei in net profit in the nine months of this year, up by 7.3 percent on the corresponding period last year, when profit totalled 660.7 million lei, according to a report released by the company’s special administrator on Tuesday.

Turnover was slightly down by 0.4 percent to 2.467 billion lei from 2.477 billion lei. EDITDA jumped by 3.1 percent to 1.599 billion lei up from 1.549 billion lei made in last Jan.-Sept.
According to the report, gross profit at end-Sept. stood at 875 million lei, marking a 56 million lei increase on the gross profit recorded in the nine months of 2014, or 6.84 percent rise.

Hidroelectrica’s overall debt shrank to 675 million lei at the end of this Sept.. At the date of entering insolvency for the first time, in June 2012, the company had 3.997 billion lei in total debts, which had dropped to 2.434 billion lei by end-Dec. 2013 and down to 1.271 billion lei at the end of last year.

The hydro-electric power producer has two operating credit lines maturing next year. A credit line was opened at Citibank, with a nominal value of 22 million euros, maturing on Feb. 23. The credit line opened at the Romanian Bank for Development totals 283 million lei and must be repaid by Sept. 30.

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