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Net profit of Romanian grid operator Transelectrica surged 844 percent y/y to RON 90.2 million, mainly due to an increased volume of transported electricity, while losses also decreased by 26 percent y/y to a negative RON 41.5 million. The figures are preliminary and are based on the Romanian accounting standard.
Operational revenue increased by 14 percent y/y to RON 2.94 billion, while expenses were up 11 percent y/y to RON 2.4 billion. Transelectrica’s turnover gained 14 percent to RON 2.9 billion.
Bulk revenue originated from the allocation of interconnection capacities, which increased by 78 percent y/y to RON 53 million, while revenue from the electricity balance market gained 152 percent y/y to RON 981 million. The grid operator has also increased tariffs for electricity transportation.
Transelectrica’s volume of transported electricity gained 1.5 percent y/y to 56 million MWh.
The Ministry of Economy, a majority shareholder in Transelectrica, will try to sell a 15 percent in the company this year through an SPO. Transelectrica’s stock exchange capitalization stood at EUR 295 million last year, while dividend yield reached 5.7 percent.
Ovidiu Posirca