Hidroelectrica will purchase wind parks in Romania and other power companies

Hidroelectrica is analysing the possibility to purchase wind and photovoltaic parks in Romania, as well as power companies abroad, said Bogdan Badea, the general manager of the company at press conference, on Monday.

He also showed he was analysing the possibility to purchase other companies outside the country.

“We have a market analysis going on,” Badea pointed out.

He was also skeptical about the plan of listing 10% of company shares this year.

“The listing should have taken place after we had a good development plan, to know what to do with the money entering the company. There has not been any plan on using the money,” the Hidroelectrica official said.

Badea announced that the energy producer obtained last year a net profit of 1.36 billion lei, the highest level in company history. In 2016 the net profit was 1.228 billion lei.

At the same time, in the first quarter of 2018, Hidroelectrica had a net profit of 485 million lei, compared to 399 millions in the same period of 2017, as a result of improved hydrological situation.

EBITDA margin grew from 67% in 2016 to 69% in 2017 and 74% in quarter 1, 2018.

“This year was a difficult period when we ensured even 50% of overall energy at national level,” Badea added.

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