Electrica S.A. registered in the first nine months of this year a consolidated net profit of 428 million lei, up by 92 million lei, or 27%, compared to the same period last year, according to a press release of the electricity distributor. The operating profit in the same period was 497 million lei, 22% higher than in the first nine months of 2014. Profit attributable to the shareholders increased by 38% compared to the same period last year.
Ioan Rosca, Director General Electrica S.A., said: “We continue to have an approximate 30 percent net profit over the same period last year and we managed to increase both revenues from distribution, and those in the supply area. In terms of EBITDA, we have added 16 percent, while the profit attributable to shareholders increased by 38%. From this point of view, we are at least in line with objectives. We continue to do what we committed, including the listing prospectus, to invest in distribution networks, the latest technology, which is already reflected positively in our operational results, but also in improving the quality of services offered and lowering the maintenance costs. We also continue deep reforming of the company, a process that started some time ago with vigorous restructuring in the area of energy services. Besides concrete measures to improve labor productivity and service quality, we have succeeded in implementing the best corporate governance practices. At this stage, we rely on sustainable growth, ensuring financial stability of the company and market leadership.”
In the nine months of reference, Electrica S.A. recorded an operating income of 4.133 billion worth of lei, increasing by 384 million lei (+ 10%) compared to the same period last year. This increase is attributed to the growth of 6% of the revenues from distribution, where they received 1.845 billion lei, and increased by 7% (220 million lei) income from electricity supply, activity which earned 3.286 billion lei. The amount of energy supplied and distributed increased by 6% during the same period.
In the nine months period, which ended on 30 September 2015 the Electrica Group has distributed approximately 12.7 TWh and provided approximately 7.6 TWh of electricity to a number of approximately 3.6 million of final consumers. During this time, the contribution of the electricity distribution and supply of electricity segment revenue was 36% of Electrica, respectively 64%.
Between January and September, the operating expenses, excluding the acquisition costs of electricity fell by 32.5 million lei (-2%), also announced Electrica S.A. Energy costs increased by 326 million lei (+ 20%), to 1.992 billion lei.