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.
Romania will again switch to winter time this weekend, in the night from Saturday to Sunday, October 25-26. Thus, at 4:00 am, clocks will be turned back one hour to 3:00 am, marking the return to Eastern European Time (EET) and making Sunday the longest day of the year, lasting 25 hours. The time change […]
Fredel is redefining how families in Romania and across Europe access elite education and lifestyle learning. Founded by Martyn Birchall, an education expert, Fredel works with like-minded families who believe in investing early in the future of their children. At its heart, Fredel is not just an educational consultancy — it...
Travel platform Lonely Planet has published a list of best Halloween destinations to try in Europe and Romania’s famous region of Transylvania is at the top. Best known as the place where Dracula’s Castle is located, the Romanian region is also home to the Citadel of Sighişoara or the spooky Hoia-Baciu Forest in Cluj-Napoca. “Forget […]
On a crisp November evening, Bucharest sheds its autumn gloom and slips into something far more vivid. Inside the Radisson Blu Hotel, the lobby glows with candlelight, bursts of marigold yellow, and the hum of anticipation. This year’s Halloween celebration isn’t about fright, it’s about life. On November 1, the five-star hotel on Calea Victoriei […]
Bitdefender, the global cybersecurity leader born in Romania, announced the extension of its multi-year partnership and collaboration agreement with Scuderia Ferrari HP, the Formula 1 racing division of Ferrari. Under the renewed agreement, Bitdefender will remain Ferrari’s exclusive global partner in the cybersecurity category and will...
Cluj-Napoca will build a center for the victims of domestic violence following an investment of EUR 5 million, mayor Emil Boc announced on October 20. The center will consist of an administrative building, with spaces for social, medical and psychological counseling, offices, kitchen, dining room and activity areas; and a building with 14 fully equipped […]
