Hidroelectrica: Net profit of almost RON 1bn in 2014, up 35%

Hidroelectrica in 2014 posted a net profit of RON 967mln, climbing 35% from the previous year, when the company posted a net result of RON 719mln and a record turnover of RON 3.4bn, amid the lowest production price in the past five years, of RON 108/MWh.

“If we excluded the impact of the tax on special constructions, of approximately RON 8/MWh, and of the tax on industrial water, of RON 21/MWh, then the cost of MW produced by Hidroelectrica in 2014 would be only RON 79, being, by far, the lowest cost ever recorded by the company. Hidroelectrica’s performance in 2014 is even greater as it is related to a production of 18.4TWh, significantly lower than the record registered in 2005, of 20.1TWh, or in 2010 of 19.8TWh. However, the turnover increased by RON 135mln compared to 2010, and the profit was by RON 800mln higher”, a company communique reads.