Electrica SA Group registered in the first quarter of 2016 a consolidated net profit of 142 million lei, an evolution of 12% compared to the same period last year, according to the company results. The operating profit recorded in the first five months was 170 million lei, 19% higher than the same period in 2015. The EBITDA result in the three months increased by 12% to 258 million lei.

“Despite major changes in the energy market, including of the regulatory framework, financial results of Electrica in the first three months of this year are very good. The measures implemented by company management to streamline core activities, reduce costs and optimize investments led to these financial results, continuing virtually constant evolution of profitability”, said Iuliana Andronache, interim General Director at Electrica SA.

Quarterly operating income totaled nearly 1.52 billion lei, up by 92 million lei (+6%) compared to the same period in 2015. The supply segment registered a 3% revenue growth amid increasing amount of energy sold by 8% over the first quarter of the previous year.

Despite a 3% increase of the energy quantities distributed, the distribution segment recorded revenues decreased by 10% primarily because of lower tariffs.

In the mentioned period, operating expenses were up 5%, mainly through the acquisition of a greater amount of energy. For this year, Electrica SA has budgeted investments of 834 million lei, company representatives explained.