EBITDA profit of E.ON in Romania increased last year, but the German utilities reported the largest net loss in history, 3.1 billion, E.ON announced, quoted by Mediafax.

“Earnings before interest, tax, depreciation and amortization (EBITDA) of other regional divisions rose by 24 million, mainly due to higher earnings in Romania, France and E.ON Connecting Energies division. EBITDA climbed in Romania due to higher gross margin in the distribution sector (which was tempered by a lower margin sales division) and because of the measures taken to reduce costs, “quoted Mediafax a report of the German company.

EBITDA generated by regional divisions, which includes businesses in France, Belgium, Netherlands, Luxembourg, Slovakia, Romania, Italy and Spain rose from 212 million in 2013 to 236 million last year. At group level, EBITDA decreased to 8.3 billion euros last year compared to 9.2 billion the year before.

German group reported a net loss of 3.1 billion euros last year, amid provisions amounting to 5.4 billion euros established in the UK, Sweden and Italy. In 2013, the company made a profit of 2.5 billion euros. This is the largest annual loss recorded by E.ON since its formation in 2000 through the merger of VEBA and Viagem, writes Reuters.

Late last year, E.ON announced that it will transfer to a new entity the exploration and production of oil and gas and the production of conventional energy sources activities. Main company will focus on the renewable energy and the distribution of electricity and gas activity they perform in Romania.

Sales of natural gas to consumers and small and medium enterprises declined last year to 93.3 billion kWh from 118.2 billion kWh, while the gas supply went down in Romania, Great Britain, Germany and the Netherlands, because of the hot weather, writes Mediafax.

Revenues dropped to 111.5 billion euros last year, compared with 119.6 billion euros in 2013. Investments in the group of countries which includes Romania has advanced from 179 million in 2013 to 184 million last year, due to increased investment in the distribution network in Romania and a heating project in the Netherlands. At the end of last year, E.ON had 6,523 employees in Romania, down from 6,903 employees in 2013, amid the divisional transfers.