Romanian Hidroelectrica’s shares 2.55% down after company revises downwards 2024 profit forecast
<p>The revised financial projection for 2024, including a 14.2% downward revision of the net profit notified by the management of Hidroelectrica (BVB: H2O) to shareholders, sent the company’s shares down by 2.55%.&nbsp;</p>

<p>The revision was prompted by a change in the electricity price outlook, only partly compensated by the higher production forecast.&nbsp;</p>

<p>Total operating revenues are rectified down by 6% as a result of the decrease in the average selling price of electricity by 12%, partly compensated by the 4% increase in the amount of electricity forecasted to be sold in 2024, the company’s management explained. Legislative amendments also contributed to the revision of the 2024 financial planning.</p>

<p>The management of the largest energy producer in Romania and the largest company listed on the Bucharest Stock Exchange now expects a net profit of RON 4.15 billion (EUR 830 million), down 34.4% y/y.</p>

<p>The company’s market capitalisation was RON 60 billion (EUR 12 billion) after the correction prompted by the revised financial projections.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: Facebook/Hidroelectrica)</em></p>