Romania’s Hidroelectrica Sees '09 Gross Profit Down 22% at 70 Mln Lei (16.8 Mln Euro) - Media

Romanian state-owned hydropower generator and supplier Hidroelectrica expects its gross profit to fall by 22% this year to 70 million lei ($22.5 million/16.8 million euro), Bucharest-based daily Business Standard reported on Tuesday.

Hidroelectrica sees its total revenue falling by 6.2% to 2.5 billion lei this year. It plans investments of 1.16 billion lei, including 390 million lei coming from external credits, Business Standard (www.standard.ro) reported.

Hidroelectrica officials were not immediately available to comment.

Hidroelectrica’s 2009 plan is subject to approval by the country’s Economy Ministry, which holds the majority stake in the hydropower generator.

(1 euro = 4.164 Romanian lei)

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