Hidroeléctrica de Cahora Bassa's (HCB) profit fell by 9% in 2022 compared to 2021, standing at 9.2 billion meticais.

According to the report published today by Hidroeléctrica in the newspaper Jornal Notícias, despite the difference compared to last year's record figure, the results are at a level that leaves management satisfied.

"The results show that the financial and operational performance indicators continue to be as robust as expected," said Boavida Lopes Muhambe, Chairman of the Board of Directors.

Meanwhile, the result includes a 6% drop in sales, from almost 29 billion meticais to 27.1 billion meticais. In the same vein, earnings per share fell from 380 to 350 meticais per share.

"Around 2.7 billion meticais were channeled to the state in the form of concession fees, approximately 5.1 billion meticais in the form of taxes and more than 3.7 billion meticais in dividends were paid to series A and B shareholders, above the percentage recommended by the company's articles of association," said HCB's CEO.

It should be remembered that the Mozambican state owns 85% of HCB, the Portuguese company Redes Energéticas Nacionais (REN) owns 7.5%, there is 4% of share capital dispersed on the stock exchange and HCB has 3.5% of its own shares.