Electrica: Revenues of RON 5.2 billion in 2013 and RON 1.2 billion in 1Q, 2014

Newsroom 02/06/2014 | 15:49

Electrica, the leading distributor and supplier of electricity in Romania, generated a consolidated net profit group share of RON 243 million on revenues of approximately RON 5.2 billion in 2013 and a consolidated net profit group share of RON 60 million on revenues of approximately RON 1.2 billion in the first quarter of 2014, according to a press release from the company.

Electrica reported consolidated EBITDA of RON 222 million in the first quarter of 2014, compared to RON 180 million in the first quarter of 2013. Consolidated EBITDA amounted to RON 749 million, RON 647 million and RON 275 million in 2013, 2012 and 2011,

“We believe that our strengths include the positioning as a leader in the electricity distribution, as well as in the electricity supply in Romania, both in terms of volume of electricity distributed and supplied, respectively and by the number of users and consumers, respectively. The stable regulatory environment under which the Group conducts its business has also assured the improvement of operating profit and maintaining a stable and predictable level of revenues and cash generated from operations during the past two years”, said Ioan Rosca, CEO of Electrica.

The Group Electrica has been recently reorganized and, following this process, the minority interests of the Group have been transferred to a newly established company having the purpose of managing these assets, with the state being its only shareholder.