Wedoany.com Report-Feb 11, State-controlled hydropower group Hidroelectrica (BVB: H2O) announced that its net electricity production dropped by 21% y/y to 13,864 GWh in 2024, according to the company’s preliminary operational report.
The amount of total electricity sold decreased by 24% to 14,665 GWh.
The dynamics reflects marginal improvement from the 22% y/y decline seen in the first nine months of the year when the company produced 11,053 GWh of electricity.
Hidroelectrica will publish its annual report on February 26, according to BVB.
H2O shares are trading down 2% in the last 12 months, at a capitalization of RON 55 billion (EUR 11 billion), the largest among companies listed on the local stock exchange.
Romania's largest energy producer recorded a net profit of RON 3.5 billion (EUR 700 million) in January-September 2024, down 32% compared to the same period last year, while revenues fell 25% to RON 7.2 billion.
