Hidroelectrica announced on Friday that it has distributed dividends worth RON 1.13 billion, or 90 percent of the profit it made last year. The amount is the highest in the company’s history and 10 percent higher than the dividends distributed last year.
Of the total, RON 908 million are going to the Energy Ministry, which owns 80 percent of shares, while RON 226 million are going to the other shareholder, the Property Fund.
In 2017, Hidroelectrica had record financial results: a turnover of RON 3.25 billion and a net profit of RON 1.6 billion, with an EBITDA of 69 percent.
“Hidroelectrica’s exceptional financial results for 2017 allow us to distribute to our shareholders the highest dividend amount in the company’s history. Notably, the company’s performance was obtained in a year with low hydraulicity. We believe these results are based on our efficient contracting plan and our very good understanding of the mechanisms of the energy market. We are concerned about the long-term sustainability of this success, so we have included business diversification into our strategy, especially in the green energy sector, and we’re also looking out for other opportunities,” said Bogdan Badea, the president of Hidroelectrica’s Management.
Badea also said that the energy production and sales of the first half of 2018 are predicting an even better year for Hidroelectrica. The company had produced 9.345 TWh by June 30, which is 20 percent more than in the same period of 2017.
The company is planning investments of EUR 109 million for 2018 – the largest in the company’s recent history. In parallel, Hidroelectrica intends to soon restart financing some economically viable complex objectives, which have until now been blocked.