Romanian hydropower group plans to distribute the entire record profit achieved last year of RON 6.2 billion (EUR 1.25 billion), resulting in an 11% dividend yield according to the proposal drafted by the management for the shareholders summoned on April 29.
Hidroelectrica reported RON 12.24 billion (nearly EUR 2.5 billion) revenues and RON 6.3 billion (EUR 1.28 billion) net profit in 2023.
The company expects to generate a net profit of only RON 4.8 billion this year.
The company’s market capitalization is RON 57.6 billion (EUR 11.5 billion) after its shares rose by 23% compared to the IPO price last July.
For 2024, the company estimates that it will obtain a net profit of RON 4.84 billion, 24% down y/y, and total revenues of RON 10.9 billion (-11% y/y), mainly as an effect of less electricity produced this year compared to last year – when a six-year record was hit.
On the upside, Hidroelectrica expects to obtain an average price 2% higher for its electricity in 2024 compared to 2023, romania-insider.com reports.
