The net profit of Empresa Hidroeléctrica de Cahora Bassa (HCB) between January and September 2024 amounted to 12,919.42 million Meticais, 29.1% and 13.4% higher than the budget and the figure for the same period in 2023.

As a result of this financial performance, according to the HCB statement sent to our newsroom, it is estimated that the net profit by the end of the year will be at the budgeted level, i.e. 13,038.97 million Meticais.

In terms of income and gains, these stood at 27,928.50 million Meticais, 6.2% higher than in the same period in 2023, as a result of the 1.2% increase in production compared to 2023, as well as the tariff adjustment.

In terms of production, by the end of the third quarter of 2024 HCB had recorded hydro-energy production of 12,265.35 GWh, 4.7% and 1.2% higher than planned and the same period in 2023, respectively, "a figure achieved in the context of the implementation of hydrological management measures aimed at controlling the reduction in the level of water storage in the reservoir," the HCB report states.

Given current production levels, water availability and the performance of the equipment, annual production is expected to reach 15,970.38, 3.5% higher than planned and 0.5% lower than in the same period in 2023, respectively, the HCB company's reports and accounts document states.

The profitability and liquidity ratios continue to demonstrate the company's economic and financial strength. The Return on Assets and Operating Margin demonstrate the company's solidity and increase in operating results up to September of this year, compared to the same period last year.