Nuclearelectrica's profit increased by 60 pct in the first semester of 2019

Nuclearelectrica (SNN) reported a net profit of RON 290.6 million in the first six months of this year, an increase of 59.4 percent compared to the same period of last year, according to financial data reported to the Bucharest Stock Exchange.

“Operating profit (EBIT) increased by 69.2 percent and EBITDA increased by 31.1 percent compared to the same period of the previous year, mainly as a result of the 20.1 percent increase of the operating revenues, influenced by the 22 percent increase of revenues from the sale of electricity,” the company’s representatives said.

The gross electricity production in the two operational units of the Cernavoda NPP was 5.3 million MWh in the first half of 2019, of which 4.9 million MWh were delivered to the National Energy System.

Compared to the same period of the previous year, the quantity of electricity sold on the competitive market of bilateral contracts increased by 9 percent, benefitting from an increase of the average selling price in this market by 18 percent, while the quantity of electricity sold on the spot market (PZU) decreased by 35 percent.

The company sold about 0.1 percent of the energy on the regulated market at the regulated price.

For the year 2019, in order to comply with the provisions of Ordinance 114/2018, ANRE established an amount of electricity to be sold by SNN on regulated contracts of 1,377 GWh (of which 6.1 GWh for the period from January 1 to June 30, 2019).

The revenues obtained by SNN on the electricity market related to electricity supplies from the first semester of 2019 are RON 1.18 billion, 0.16 percent higher than the budgeted revenues for the first six months and higher by 21.8 percent respectively compared to the achievements of the same period of the previous year.