In the first three months of the current year, the Hidroelectrica Group recorded a net profit down by 23%, to 1.326 billion RON, from 1.723 billion RON in the same period of 2023, according to the Q1 2024 Report, published on Tuesday on the Bucharest Stock Exchange.Also, revenues were down by 22% compared to the same period of 2023 to 2.536 billion RON, from 3.272 billion RON, and the result per share is lower by 23%, from 3.84 RON/share to 2 .95 RON/share.The operating margin, of 59%, is down 2% compared to the same period last year, and the net margin, of 52%, down 1%."The Hidroelectrica Group records decreasing operational and financial results for the first 3 months of 2024, compared to the same period of 2023, in line with the budget forecasts. The Group's operating margin and net margin were decreased by 2% and 1%, respectively, compared to from the similar period of 2023, mainly as a result of the decrease in electricity sales prices (both locally and in the European interconnected market) and the amount of electricity sold. The results obtained in Q1 2024 reflect the expectations set in the budget approved for 2024", the document reads.Electricity production was down compared to the same period last year, so that, in the first three months of 2024, Hidroelectrica's results were influenced by the decrease in electricity sales prices, as well as the amount of electricity sold, implicitly leading to a decrease in income from the sale of energy.Hidroelectrica is the largest producer of green energy in Romania and the main provider of technological services needed in the National Energy System, being a vital company for a strategic sector, with implications for national security.
A caravan of 150 cyclists, 90 cars and 25 motorbikes covered 830 km at the Tour of Romania, the most important local cycling competition, organized between 10 and 14 September by the Romanian Cycling Federation, together with the National Agency for Sports and Auchan Romania, the main co-organizing partner. In addition to the elite sports […]
certSIGN, a Romania-based company and leading developer and integrator of cybersecurity and cryptographic solutions, has been awarded, following a competitive international tender process, a framework contract to support the European Union Agency for Cybersecurity (ENISA) in providing cybersecurity services to Romania. certSIGN will lead a consortium including Bit Sentinel and CybrOps to deliver cybersecurity preparedness […]
Pets are now officially welcome inside Cluj-Napoca City Hall, mayor Emil Boc announced on Monday, September 15, describing the move as part of efforts to make the city more modern and empathetic. “Today we are opening the doors of City Hall to our voiceless friends as well. Dear residents, from now on, pets are welcome […]
Romania is currently discussing with Ukraine the possibility of developing joint drone production projects, according to defense minister Ionuț Moșteanu. Drones have been at the forefront of the war between Ukraine and Russia, used by both sides for reconnaissance, surveillance, but also deep strikes in enemy territory. The prevalence of drones on the battlefield and […]
The Băile Govora resort, in southern Romania, will have a new adventure park, with a zip line, alpine coaster, and even off-road bicycle tracks, according to a plan announced on Monday, September 15, by the Băile Govora City Hall. The goal of the investment is to develop leisure tourism in the resort famed for its […]
Romania’s prime minister Ilie Bolojan reportedly opposes the idea of further prolonging the price-capping mechanism introduced in August 2023 and repeatedly extended so far, according to Ziarul Financiar. Ambiguous statements over the weekend indicated an incipient conflict among the ruling coalition’s...
