Hidroelectrica records a decrease in operational and financial results for the first three months of 2024 compared to the same period in 2023, in line with the approved budget. Hiroelectrica’s operating margin and net margin decreased by 2 percent and 1 percent, respectively, compared to the same period in 2023, mainly due to the decrease in electricity selling prices (both locally and in the interconnected European market) and the quantity of electricity sold.
Net profit decreased by 23 percent, from 1.72 billion RON to 1.32 billion RON (from 345 to 265 million euros).
In the first three months of 2024, Hidroelectrica’s results were influenced by the decrease in electricity selling prices, as well as the quantity of electricity sold, leading implicitly to a decrease in revenue from energy sales.
The electricity produced and sold (net production) experienced a slight decrease of approximately 3 percent in the first quarter of 2024 compared to the same period in the previous year, with a quantity of 4,296 GWh recorded from January to March 2024. This decline was primarily due to hydrological conditions recorded in March 2024, when the average flow rate of the Danube (6,054 m³/s) decreased by approximately 15 percent compared to the same period in 2023.
