The net profit of the state-owned company Hidroelectrica increased by 42% in 2023.
Thus, Romania’s largest energy producer achieved a profit of 6.337 billion lei (1.25 billion euros), up from 4.464 billion lei in 2022.
The net energy production recorded a 30% increase compared to 2022, reaching 17.639 GWh, according to the report submitted to the Bucharest Stock Exchange (BVB).
The company's revenues also rose by 30% in 2023, reaching 12.244 billion lei (compared to 9.452 billion lei in 2022).
The operational margin stood at 58%, up by 6% from the previous year, while the net profit margin reached 52%, up by 10% from 2022.
"These increases were mainly due to the improvement of hydrological conditions in 2023 compared to 2022, which led to a production in 2023 above the multi-year average," the company's report states.
The transfer costs related to electricity supply increased by 126%, to 1.45 million in 2023 from 644 million lei in 2022. The increase was directly proportional to the growth of the customer portfolio, along with the increase in regulated tariffs.