Romania’s leading energy producer, Hidroelectrica (BVB: H2O), announced its output decreased by 22% y\/y to 11.35TWh in January-September, citing both market conditions (a change in the regulations that resulted in volatile prices and volumes traded) and adverse hydrological conditions.\u00a0<\/p>\n
The revenues contracted by 25% y\/y to RON 7.2 billion (EUR 1.44 billion), roughly in line with the total amount of energy sold (11.72GWh, -24% y\/y).\u00a0<\/p>\n
Out of the total energy sold, 6.96TWh was sold on the wholesale market at an average price of RON 467 per MWh (-6% y\/y) and 4.00TWh directly to end users at an average price of RON 432 (-22% y\/y). Nearly 0.4TWh was supplied as balancing services (+64% y\/y), and the revenues thus generated RON 664 million (+98% y\/y).<\/p>\n
EBITDA plunged slightly faster than revenues, by 29% y\/y (to RON 4.67 billion), and consequently, the EBITDA margin deteriorated to 58% from 63% in the same period last year.<\/p>\n
The operational decline was anticipated by the company’s management, and the RON 3.5 billion (EUR 700 million, -32% y\/y) net profit was actually slightly above the budget.\u00a0<\/p>\n
Still, the company’s shares lost 0.66% on the day the financial report was released.\u00a0<\/p>\n
With a below-market annual rise of 1.8% y\/y, the company’s capitalization reached RON 54.5 billion (EUR 11 billion) currently. The dividend distributed this year out of last year’s robust profit added a supplementary 11.5% yield to the investors’ portfolios.\u00a0<\/p>\n
The company is controlled by the state (80%).<\/p>\n
iulian@romania-insider.com<\/em><\/p>\n (Photo source: Inquam Photos\/Octav Ganea)<\/em><\/p>","protected":false},"excerpt":{"rendered":" Romania’s leading energy producer, Hidroelectrica (BVB: H2O), announced its output decreased by 22% y\/y to 11.35TWh in January-September, citing both market conditions (a change in the regulations that resulted in volatile prices and volumes traded) and adverse hydrological conditions.\u00a0 The revenues contracted by 25% y\/y to RON 7.2 billion (EUR 1.44 billion), roughly in line […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2596","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2596"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2596\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}