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Hidroelectrica posts 165 million Euro profit in five months

Hidroelectrica registered a gross profit of 743.7 million RON (around 165 million Euro) in the first five months of 2017, representing an increase of 26 per cent compared to the same period in 2016.

2017-06-23 14:42:07

Production level at five months was approximately 6.5 TWh, compared to 7 TWh achieved in the same period of 2016. Turnover registered was at 1.436 billion RON (319 million Euro), an increase by 11% from last year.

Hidroelectrica could get one billion Euro from listing on the stock exchange if the process would run this year, but the funds should go to the state budget, as the energy producer does not need the money, the company's former judicial administrator Remus Borza recently said in a press conference.

"Hidroelectrica has 500 million Euro in bank deposits," said Borza. "If we are to make the listing, which is a turning point for Hidroelectrica, there is no greater time than now to do it. Hidroelectrica can be listed at a multiple EBITDA of 15-20 times, which means the company has a value of 7.5 to ten billion Euro. At a 15 per cent listing this year, the state budget could get an extra one billion Euro."



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