Alina Oprea • 1 March, 2023 at 12:12 PM
Hidroelectrica, one of the largest energy producers in Romania, aims to publish its first individual Sustainability Report, prepared in accordance with the GRI Standards in 2023. The most recent non-financial statement was published by Hidroelectrica in June 2022 for the year 2021. Last year the company made a net profit of RON 4 billion (€800 million).
The information appears in the annual report of Fondul Proprietatea, one of the company's minority shareholders, which owns 19.94% of Hidroelectrica's shares.
Also, in line with best practices, the company is in the process of reviewing its sustainability strategy and objectives in its areas of interest, in the context of its overall business and development strategy. Hidroelectrica has so far published the non-financial declaration in accordance with the requirements of EU Directive 2014/95/EU and in accordance with the Orders of the Ministry of Finance no. 1938/2016 and no. 2844/2016.
Last year, the company achieved a net profit of RON 4 billion (€800 million), higher by almost 33%, while revenues increased by RON 9.12 billion (€1.82 million), up by more than 40%.
Last year, the company sold 14.33% TWh of electricity, down 16% from 2021. Power production stood at 13.25 TWh, down from 16.51 TWh.
The company's investments in 2022 were RON 194.1 million (€30.8 million), compared to RON 829.3 million (€165.8 million) in 2021, of which RON 635.2 million (€127 million) related to the purchase of the Crucea wind farm).
On March 31, 2022, the General Meeting of Hidroelectrica Shareholders approved the initiation of the process of listing the company's shares on the BVB through a public offer of the company's shares owned by Fondul Proprietatea.
The Fund's shareholders approved the sale of the shares held by FP in Hidroelectrica SA during the AGM of November 15, 2022. The Fund and Hidroelectrica SA continue to prepare for an initial public offering during 2023.
The Romanian state has committed, within the PNRR, to list Hidroelectrica by the end of the first semester of 2023.