Electricity producer Hidroelectrica achieved a net profit of 806 million lei in the first half of this year, 11% less compared to the same period last year, according to a report posted on the company’s website.

EBITDA (Profit before interest, taxes, depreciation and amortization) decreased by 26%, to 1.251 billion lei, while operating income was lower by 23%, reaching 1.823 billion lei.

“Operating revenues decreased in the first half of the year compared to the same period of 2019, due to low hydraulics and lower average selling price due to the effects of COVID-19, as well as the fact that Hidroelectrica was forced to sell even more electricity on the regulated market than in the first half of 2019 and at an even lower price. This also led to a decrease in operating expenses, too,” explain the company’s representatives, according to Agerpres.

The company produced 7.136 TWh of electricity during the analyzed period, 23% less than in the first half of last year.

However, investments increased by 32%, to 53.5 million lei. The largest increase, of 81%, was in the area of investments in refurbishments and modernizations, where 20.3 million lei were allocated.