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.
Interim president Ilie Bolojan announced the upcoming meeting of the Supreme Council of National Defense (CSAT), scheduled for Friday, March 28, at the Cotroceni Palace in Bucharest. The agenda of the meeting includes discussions on several critical topics, notably the status and future of the ongoing conflict in Ukraine...
The EU joint acquisitions in the defense sector are an opportunity for the national defense industry, said Romania's interim president, Ilie Bolojan, at the end of the European Council meeting he attended on Thursday, March 20. The official said that discussions at the meeting were focused on accelerating measures for European defense preparedness so that […]
Romania’s Cătălina Ponor is one of the four gymnastics legends to be honored at the 28th annual International Gymnastics Hall of Fame (IGHOF) induction ceremony on May 17, according to an official announcement. The event will be held at the Petroleum Club in Oklahoma City. The 2025 IGHOF inductees are Beth Tweddle, Andreas Wecker, and […]
Value vouchers contributed over RON 32 billion to Romania’s Gross Domestic Product in 2023, which represents more than 2% of the national GDP. According to a study conducted by the Bucharest University of Economic Studies (ASE), value vouchers, including meal vouchers, holiday vouchers, gift vouchers, and cultural vouchers, have played an essential role in supporting […]
A new survey aiming to assess European citizens' views on transatlantic relations and security issues found that citizens in Romania and Poland are the most concerned about the possibility of an armed conflict in the coming years, but also share relatively positive views of Donald Trump and Elon Musk. Around 74% of Romanians, and 71% […]
The European Bank for Reconstruction and Development (EBRD) has committed EUR 15 million to Morphosis Capital Fund II, a private equity fund supporting small and medium-sized enterprises (SMEs) and lower mid-market companies in Romania and across Central and Eastern Europe (CEE). Managed by Morphosis Capital Partners, the fund aims to provide equity financing as an […]
