Nuclearelectrica records RON 219.3 million in profit for the first quarter of 2019

Paul Barbu 14/05/2019 | 12:41

Nuclearelectrica S.A. National Company (SNN) recorded a net profit of  RON 219.3 million, 23.9 percent higher compared to the same period of last year.

The company’s operating income increased by 18.7 percent, influenced by the 23.5 percent increase in the weighted average price of the electricity sold in the first quarter of 2019 as compared to the weighted average price in the first quarter of 2018.

Compared to the same period of the previous year, the quantity of electricity sold on the competition market of bilateral contracts increased by 9 percent, and recorded an 18 percent increase of the average sale price on this market, while the electricity quantity sold on the spot market (PZU) decreased by 44 percent, whereas an average sale price on this market lowered by 58 percent.

The revenues obtained from the electricity market related to electricity deliveries in Q1 2019 are of RON 665.6 million, 0.16 percent higher than the budget revenues for Q1 2019, and 22.8 percent higher than the same period of the previous year.

On March 31, 2019, the value of the investment program was 6.6 percent, an increase compared to the same period of 2018 (3.5 percent) to an annual investment plan amount of RON 256.5 million, which in 2018 was RON 244.8 million.

Nuclearelectrica’s shareholders are the Romanian state, through the Energy Ministry, holding 82.49 precent of the share capital, Fondul Proprietatea – 7.05 percent and other shareholders – 10.45 percent.

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