Judicial administrator of the Romanian electricity producer Hidroelectrica, Remus Borza announced that the company has recorded a turnover of 286 million euros in the first five months of 2016.
During this period, the company produced 6.9 TWh of electricity, which is 1.4 TWh lower than in the same period last year due to lower water levels. This, along with the reduction of the average tariff, resulted in lower turnover, which is 18 % lower than in the first five months of 2015. This is also the reason that the company’s earnings before taxes, interest, depreciation and amortization (EBITDA) has dropped by 12 % in the period January-May 2016, amounting to 124.1 million euros.
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Tags: electricity, financial, Hidroelectrica, Romania