Electrica Group’s net consolidated profit adds 9 pct to RON 466 mln on nine months

Newsroom 16/11/2016 | 12:21

Electrica Group’s net consolidated profit reached RON 466 million at September 30, a growth by 9 percent compared with the first nine months of 2015.

The net profit for the Electrica SA shareholders grew by 13 percent, generated mainly by the earnings from the deconsolidation of the Energy Service Company Moldova, as a result of the restructuring measures of the unprofitable activities within the Group.

The operational profit (EBIT) for the first nine months of the year was RON 556.7 million, which was 12 percent higher than the same interval of 2015. In the same period Electrica Group registered a growth of 10 percent of EBITDA up to RON 838 million.

The operational revenues amounted to RON 4.19 billion, a growth of RON 60 million, compared with the same period of 2015, based on the implemented restructuring measures.

On the supply segment, the company registered a drop of 1.2 percent of the revenues, generated by the decrease of 6.9 percent of the average sale price, compared with the first nine months of the last year.

On the distribution segment, the revenues fell by 4.2 percent even if the distributed quantity increased by 2.1 percent, taking into account that the medium tariffs dropped.

In the first nine months of the year, Electrica Group distributed approximately 12.98 TWh of electricity ( a growth of 2.1 percent compared with the same period of 2015) to approximately 3.67 million users and supplied 8.1 TWh (a growth by 6.7 percent compared with the first nine months of 2015) to 3.61 million of final users.

“The results registered by Electrica in the first nine months of this year are as expected. The performances have to be considered in the context in which 2016 was a year with many challenges for the company from the energy sector, taking into account the liberalization of the energy market and the necessity of cost controls, respectively the efficiency growth on the distribution segment,” said Catalin Stancu, general director of Electrica SA.

Georgiana Bendre

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