Transelectrica posts RON 98 mln net profit in the first half of the year, similar to 2017

Aurel Dragan 16/08/2018 | 09:24

Transelectrica, the national transporter of electricity, recorded a net profit of RON 98 million in the first semester of the year, same as the gain in the first half of 2017. Total revenue of the company from transporting electricity went down by 9 percent to RON 560 million and the operational profit (EBITDA) was down 19 percent to RON 230 million.

The amount of electricity delivered to consumers was slightly higher than the one from last year, respectively 27.96 million MWh, compared to 27.40 million MWh in 2017. Revenues from transmission were RON 504.1 million, down from RON 554 million in the first half of 2017.

Revenues from system services were the only increasing this year, up to RON 375.2 million from RON 355.4 million last year. The revenues from the balancing market decreased to RON 330.85 million from RON 805.05 million în the first half of 2017, due to the falling prices on the spot market.

Total revenues of the company were RON 1.23 billion, down 29.1 percent from RON 1.74 billion în the first semester of 2017.

”Given the rise in the amount of electricity delivered to consumers in the first semester of 2018 compared to the first semester of 2017, namely of 2.03% or 555,322 MWh, the income from the transmission service has registered a decrease in the amount of 41,389,705, determined by the decrease of the average tariffs approved by ANRE,” says the company in the press release.

The company made investments of RON 82.4 million purchasing ”tangible and intangible assets” and RON 187.7 million in ”fixed assets recorded in the accounts”.

The total operational expenses (including depreciation) registered in the first semester of 2018 decreased by 30.4% compared to the similar period of the previous year (RON 1,121 mn, down from RON 1,611 mn in the same period of 2017) mainly as a result of non-profit segment evolution, but also as a result of registering lower amounts in the category of depreciation adjustments.

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