Hidroelectrica reported a net profit of approximately 319 million euros for the first half of 2025, down 41 percent from around 541 million euros in the same period last year. The decline was driven by reduced in-house generation and a greater reliance on market purchases to meet delivery commitments.
Severe hydrological conditions affected output early in the year. Net electricity production totaled 6,068 GWh in H1 2025, about 27 percent lower than a year earlier. In the first quarter, the Danube’s average flow was 4,257 cubic meters per second, roughly 40 percent below the previous year, limiting hydroelectric generation. Production improved in the second quarter as Hidroelectrica partially recovered output and increased electricity purchases from the market.
These developments are prompting a strategic transition. Hidroelectrica is shifting from being primarily a hydro producer to an integrated producer-supplier model, combining in-house generation with growing volumes from third-party sources to maintain delivery performance and strengthen its position in the supply market.
Revenues for the half year totaled 868 million euros, down 16 percent from H1 2024. Operating and net margins stood at 41 percent and 37 percent, respectively, both under pressure from higher exposure to wholesale market purchases and a revenue mix increasingly weighted toward supply activities.
