The net profit of the state company Hidroelectrica (BVB: H2O), the largest electricity producer in Romania, increased by 42%y/y in the first 9 months of the year to RON 5.18 billion (EUR 1.05 billion).

The company's market capitalisation is RON 53.5 billion (nearly EUR 11 billion), and the investors remain bullish on the company's shares – which reached RON 119.1, 14.5% up from RON 104 at the IPO in July.

Hidroelectrica's energy production advanced by 38% to 14.1 GWh, thanks to high hydraulics, pushing its January-September revenues up by 32% y/y to over RON 9.5 billion.

iulian@romania-insider.com

(Photo source: Facebook/Hidroelectrica)