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.
“Garden of Memories,” a civic initiative meant to commemorate the 1989 Revolution that led to the fall of communism in Romania, is set to take place between December 19-20 around the Memorial of Rebirth, in Bucharest’s Revolution Square. Organized by the Streets for People Association, together with the Bucharest City Hall and the Museum of […]
Runware, a startup founded by two Romanian entrepreneurs, announced last week that it has secured a USD 50 million Series A funding round led by Dawn Capital, one of the largest European investors in B2B software companies. The round also included Comcast Ventures, Speedinvest, Insight Partners, and a16z Speedrun. The company founded by Flaviu Rădulescu and […]
The body of Romanian former justice minister Rodica Stănoiu was exhumed on Monday, December 15, after prosecutors opened an in rem case regarding her suspicious death, Digi24 reported. Investigators are looking into the possibility that the former minister may have been killed through negligence. ...
Authorities in Romania have begun imposing fines for owners of bicycles and electric scooters who do not take out mandatory motor third-party liability insurance (RCA). The new rules have been applicable since November 13, but the Romanian Parliament granted a 30-day grace period until the application of sanctions, according to...
Art Safari will relocate to Amzei Square in central Bucharest in 2026, where it will operate under a new format titled Art Safari New Museum, following more than a decade of pop-up exhibitions hosted in historic buildings across the capital. After 12 years, 17 editions, and more than 1 million visitors, the exhibition platform will […]
In Romania, Christmas is more than holiday markets, decorated trees, and wrapped gifts. It's a season filled with old customs, lively rituals, and dishes that bring families together. One of the most popular Christmas traditions is caroling. Although traditions vary depending on the area, the ritual of going from house to house and singing carols […]
