Elcen recorded a net loss of 18.27 million lei in 2018, from a profit worth 35.9 million lei in the previous year. Turnover was also lower, of 1.65 billion lei, compared to 1.73 billion in 2017.

“The turnover for 2018 is reported under the caveat that that, up to the present date, the value of overcompensation for the high efficiency cogeneration activity has not been registered, which is to be communicated by ANRE until the completion of the Annual Financial Situation,” the company says, according to economica.net.

The company produced less electricity and heat in 2018 compared to the previous year. Electricity generation was 2.59 TWh last year (2.84 TWh in 2017), and heat of 4.53 million Gigacalories (4.67 million Gcal in 2017).