Hidroelectrica, the largest electricity producer in Romania, has fully registered, after the first nine months of the year, a net profit of over 5.19 billion lei, up 42% compared to the same period last year, according to data published by the company.
Hidroelectrica's profit, in the amount of 5.19 billion lei, was obtained under the conditions of a 32% increase in revenues, which reached 9.55 billion lei, against the background of the increase in electricity production. Electricity production increased by 38% compared to the same period last year.
Revenues up 32% compared to the same period of 2022. Operating margin of 63%, up 5% compared to the same period last year. Net margin of 54%, up 8% compared to the period of 2022.
Net profit increased by 42%, from 3,648 million lei to 5,184 million lei.
The result per share increased by 42%, from 8.13 lei per share to 11.55 lei / share.
Energy produced and sold (net) increased by 38% (14,101 GWh) in the nine-month period ended September 30, 2023 from 10,253 GWh in the previous similar period.
"Considering the surplus production of 38% compared to the same period of the previous year, combined with the new operating conditions of the wholesale market (implementation starting from January 1, 2023 of MACEE), as well as with the variation of the SPOT price between January and September 2023 compared to the same period in 2022 (decrease by 62%), the revenues related to these transactions registered a 25% increase in the first 9 months of 2023 compared to the same period in 2022", the company also states.
The average price realized from the sale on the wholesale market was 497 lei/MWh, down 8%. The revenues from the electricity supply activity doubled (increased by 123%), to 2.52 billion lei, and "this evolution of the revenues obtained is due to the increase in the client portfolio", as the company says. The average price realized in the supply was 543 lei/MWh, without transferred costs, increasing by 26%.
The average price realized from the sale on the wholesale market was 497 lei/MWh, down 8%. The revenues from the electricity supply activity doubled (increased by 123%), to 2.52 billion lei, and "this evolution of the revenues obtained is due to the increase in the client portfolio", as the company says. The average price realized in the supply was 543 lei/MWh, without transferred costs, increasing by 26%.
According to the Transelectrica data released today, hydropower plants were, in Romania, the country's main source of electricity generation in the first nine months of the year, with 36% of the national production.