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Borbely, Hidroelectrica: Listing procedures already began

26 August 2015
Electricity
Bogdan Tudorache

Hidroelectrica’s listing is getting closer and may take place six months out of insolvency, says Karoly Borbely, Director of Strategy and Corporate Affairs, Hidroelectrica.

“We have already begun preparations for the listing … It will be possible six months after we come out of insolvency, most likely in the fall of 2016 or early 2017”, said Borbely.

He argues that Hidroelectrica managed to decrease the cost of energy produced from 176 lei per MWh before the insolvency to 107 lei at present time. The company has achieved good results in 2014, with a profit of 1.2 billion euro at a turnover of 3.2 billion euro, but 2015 will bring in a lower profit.

“This year we will reach 16 TWh of energy produced, less than last year when there were 18 TWh and the profit will be lower”, said the Hidroelectrica manager.

Bogdan Stănescu, the new special administrator of Hidroelectrica, said recently that he sees possible the listing of the company during 2017, about a year after insolvency.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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