Romania’s biggest power producer Hidroelectrica was valued at RON 20.7 billion (EUR 4.4 billion) at the end of June, based on an evaluation of investment fund Fondul Proprietatea, which holds a 20% stake in the company, Ziarul Financiar reported.

The fund updated the value of its stake in Hidroelectrica to RON 4.14 billion (EUR 877 million), considering the company’s positive results in the first six months of this year.

Hidroelectrica increased its revenues by 18% in the first half compared to the same period of 2018, to RON 2.3 billion (EUR 490 million). However, the net profit went down by 8.3%, to RON 901 million (EUR 191 million), due to higher taxes paid in the period, according to Fondul Proprietatea’s report.

The Romanian state controls 80% of Hidroelectrica through the Energy Ministry.

(Photo: Hidroelectrica on Facebook)

editor@romania-insider.com