On July 30, 2019, the Oltenia Energy Complex registered a gross profit of 188.98 million lei (+438%) and a turnover of 1,510.6 million lei (+6.8%), compared to 35.12 million lei gross profit and 1,414.4 million lei turnover on June 30, 2018, according to a statement from the company. Also, the EBITDA as of June 30, 2019 was of 614 million lei, compared to 437 million lei, as of June 30, 2018.

The company specifies that, as of June 30, 2019, it does not record outstanding debts to the consolidated budget of the state or to banking institutions, according to the CE Oltenia’s website.

The CEO also said: “For the reporting periods of June 30, 2018 to June 30, 2019, the recorded results are not influenced by the provisions for the greenhouse gas emissions certificates, as the company has the obligation to make provisions for the quantity of CO2 certificates not acquired during the year, at the close of the financial year of each year, at the purchase price valid on December 31, according to the Accounting Regulations in accordance with the International Financial Reporting Standards – IFRS”, reveals the report.

“The positive result obtained from the operating activity indicates the stability in the operational mode of operation of the CE Oltenia, and the assessment of the financial statements by the institutions empowered to classify companies in categories of financial performance is an essential element in assessing the efficiency and effectiveness of the economic operator’s activity”, further explains CE Oltenia, stressing that “there are, however, external factors that affect the value of the financial result, mainly the exchange rate and the market for CO2 certificates, the evolution of which cannot be regulated by no energy producer”.