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Hidroelectrica S.A .: The largest profit in the company's history was recorded in 2017
08 March 2018, 6:33 PM
Imagini pentru hidroelectrica
By Jerom Bolt
Hidroelectrica's energy producer obtained a gross profit of 1.6 billion lei last year, the result being the best in the history of the company, said Bogdan Badea, general manager of the company.
"According to the unaudited results, we estimate a gross profit of 1.6 billion lei, the best so far in the history of the company. The result was due to the availability of hydro-units and cost control. The output was 14 TWh, compared to 14.5 TWh forecast. It was a year below the multi-yearly hydrological average, "Badea said.
According to him, during the first semester the company made only 32% of the budgeted investments, but in the second semester the investments were made at the level of over 90% of the budgeted, so that the total value of the indicator reached 62% at the full year level. Turnover reached 3.287 billion lei, 3% below the estimated one.
Last year, the company renegotiated the collective labor contract and increased its employees' salaries by 15% last year, with 6% last year and the remainder this year, along with the transfer of social contributions.
The government approved in 2013 a strategy for the privatization of Hidroelectrica by listing 15% of the shares on the stock exchange. Subsequently, the Government has proposed listing 10% of the company. Hidroelectrica was in insolvency between 2012 and 2016.
In mid-February, Energy Minister Anton Anton said that Hidroelectrica is not currently attractive enough to be listed on the stock market after the insolvency period, so it needs consolidation to reach the capital market.
: 0 : : 0.0/0 Tags: Producer, profit, Bogdan Badea, gross, general manager, Energy, Hidroelectrica
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