“For the first nine months, we registered €78.3 million in gross profit, compared to €127.5 million in the first nine months of last year. Meanwhile, revenues increased from €442.4 million to €534.7 million,” Oprea said. Expenses also increased to €456.1 million, from €424.2 million in January-September 2007. “The substantial growth in gross profit and revenues is due to the increase of electricity production and contract renegotiation, which led to a 15-20 percent increase in prices,” Oprea added.
Production increased 20 percent, to 13.47 TWh, from 11.2 TWh.
However, hydrological perspectives are not favorable for the company, and this is likely to have a negative impact on the company’s financial results. Hidroelectrica is a water plant operator. Although in 2008 Romania did not have a severe drought as it had the previous year, water levels are still low.
By the end of the year, the company expects to produce 16.8 TWh, close to the level of a regular year in terms of hydrological levels.
