H2O.RO · BVB
Hidroelectrica: financial statements
Financially strong · see the checkFigures in RON, fiscal years
Revenue and net income
Operating and free cash flow
Margins
Returns
Income statement
| RON | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|
| Revenue | 9.5B RON | 12.2B RON | 9.1B RON | 9.6B RON | +5% |
| Operating income | 5.2B RON | 7.2B RON | 4.6B RON | 3.7B RON | -19% |
| EBITDA | 6.0B RON | 8.0B RON | 5.5B RON | 4.6B RON | -16% |
| Interest expense | 38.1M RON | 60.6M RON | 85.5M RON | 86.4M RON | +1% |
| Profit before tax | 5.4B RON | 7.5B RON | 4.8B RON | 4.0B RON | -18% |
| Income tax | 953M RON | 1.1B RON | 717M RON | 589M RON | -18% |
| Net income | 4.5B RON | 6.4B RON | 4.1B RON | 3.4B RON | -18% |
Cash flow
| RON | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|
| Operating cash flow | 4.2B RON | 5.4B RON | 6.4B RON | 4.3B RON | -32% |
| Capital expenditure | 169M RON | 189M RON | 284M RON | 541M RON | +91% |
| Free cash flow | 4.1B RON | 5.2B RON | 6.1B RON | 3.8B RON | -38% |
| Depreciation & amortization | 772M RON | 799M RON | 905M RON | 883M RON | -2% |
Balance sheet
| RON | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|
| Cash | 661M RON | 408M RON | 1.6B RON | 1.2B RON | -25% |
| Inventory | 72.4M RON | 70.9M RON | 94.0M RON | 124M RON | +32% |
| Current assets | 5.2B RON | 8.0B RON | 6.8B RON | 6.8B RON | +0% |
| Total assets | 25.4B RON | 29.1B RON | 27.0B RON | 26.7B RON | -1% |
| Current liabilities | 1.0B RON | 1.1B RON | 1.1B RON | 1.5B RON | +45% |
| Financial debt | 484M RON | 394M RON | 301M RON | 213M RON | -29% |
| Total liabilities | 3.8B RON | 4.1B RON | 4.1B RON | 4.5B RON | +10% |
| Shareholders' equity | 21.6B RON | 25.0B RON | 22.9B RON | 22.2B RON | -3% |
| Net debt | -176M RON | -14.1M RON | -1.3B RON | -974M RON | +24% |
Dividend profile
- Paying in a row
- 4+ years
- Raised in a row
- 0 years
- Growth per year
- 1.7%
- Paid out of profit
- 105.9%
- Paid out of free cash
- 97.4%
Latest dividend per share: 8.99 RON. Dividends exceeded profit over the last 3 years, which cannot last without borrowing or reserves. Without share prices EdgeScore shows no dividend yield.
Dividends
| RON | 2022 | 2023 | 2024 | 2025 | Last year |
|---|---|---|---|---|---|
| Dividends paid | 3.8B RON | 4.3B RON | 6.3B RON | 4.0B RON | -36% |
| Dividend per share | 8.54 | 9.70 | 13.99 | 8.99 | |
| Dividends / net income | 85.8% | 68.3% | 152.3% | 120.0% | |
| Dividends / free cash flow | 94.2% | 83.1% | 103.6% | 107.5% |
Ratios
| 2022 | 2023 | 2024 | 2025 | Last year | |
|---|---|---|---|---|---|
| Operating margin | 55.1% | 59.2% | 50.3% | 38.7% | |
| Net margin | 47.2% | 52.3% | 45.2% | 35.0% | |
| Return on equity | 20.7% | 25.4% | 18.1% | 15.2% | |
| Return on assets | 17.6% | 21.9% | 15.3% | 12.6% | |
| Return on invested capital | 20.0% | 26.5% | 16.8% | 14.8% | |
| Debt / equity | 0.02 | 0.02 | 0.01 | 0.01 | |
| Net debt / EBITDA | -0.0x | -0.0x | -0.2x | -0.2x | |
| Interest coverage | 136.7x | 118.8x | 53.7x | 43.0x | |
| Current ratio | 5.21 | 7.50 | 6.49 | 4.49 | |
| Quick ratio | 5.14 | 7.43 | 6.40 | 4.41 |
Data source: Bucharest Stock Exchange (ESEF), company annual reports. Lines a company does not report are left empty. Free cash flow is operating cash flow minus capital expenditure. Ratios use the same formulas as the EdgeScore check.
For information and education only. Not investment advice. Data may contain errors.