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’s Superior Council of Magistracy (CSM) issued its first response to the Recorder documentary alleging systemic manipulation within the justice system, calling the investigation an amplification of a “campaign to destabilize judicial authority.” The council said on Thursday, December 11, that it will evaluate what measures need to be taken following the report. In a […]
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]
The Buzău Land UNESCO Global Geopark in Romania has become a “living laboratory” this week as a team of American researchers arrived to study microorganisms capable of surviving in extreme environments. The scientists, part of the interdisciplinary research organisation The Two Frontiers Project, are examining methane seeps, sulfur and petroleum springs, saline sources, and other […]
A moose has been unexpectedly spotted in the Hunedoara county area, specialists from the conservation group Rewilding Romania announced on Wednesday, December 10, sharing footage of the animal on social media. The sighting is considered “an important discovery for Romania’s wildlife,” though experts caution that it remains unclear how the animal reached this region. According […]
Trade unionists will continue to require the Presidential Administration to mediate the conflict with the government on issues such as the minimum wage or the collective labour agreement, said Bogdan Hossu, president of the Cartel Alfa trade union confederation, as reported by
Prime minister Ilie Bolojan said on Wednesday, December 10, that Romania’s state budget for 2026 will be adopted only at the end of January, citing the need for Parliament to first approve legislation required to ensure predictability and compliance with the country’s deficit targets. His comments came as the government has been working to align […]
