Bogdan Tudorache

In 2019, the Electrica Group achieved a net consolidated profit of RON 207 million, up 71.2% compared to the budgeted value for 2019, but 10.3% lower than 2018, based on the audited consolidated financial statements. The consolidated net profit registered in 2019 decreased compared to the level of the previous year, given that EBITDA recorded a 5.5% increase, mainly due to the increase in amortisment and depreciation expenses, as well as to the increase in net financial expenses.

The Board of Directors of Electrica SA has approved and will submit for approval to the Ordinary General Meeting of Shareholders, from April 29, 2019, the proposal to distribute a gross dividend of RON 0.7248/ share from the individual profit of the year 2019.

In 2019, Electrica SA obtained an individual net profit of RON 258 million, up 31.9% from the budgeted value, respectively 13.5% lower compared to the level of 2018, based on the audited individual financial statements.

In 2019, the EBITDA posted by the Electrica Group amounted to RON 718 million, up 5.5% from the level of RON 681 million registered in the previous year. EBITDA growth was mainly generated by the distribution segment, which registered an increase of RON 74 million, respectively 13.9% over the previous year.

The total operating revenues of the Electrica Group, in 2019, amounted to RON 6,440 million, representing an increase of 11.5% compared to 2018. In the supply segment, revenues were higher by 19.4%, in the context of the increase of the prices of electricity sales by 7.6% and of the quantity supplied on the retail market by 8.3%, of the development of the natural gas supply activity and of the increase of the revenues from green certificates, the latter having neutral impact on the supply margin.

In terms of distribution segment, revenues were 0.1% higher, mainly as a result of the slight increase in the quantity distributed, on average by 0.4%.

In 2019, distribution operators within the Electrica Group made and put into operation investments representing 99.8% of the value of the annual plan assumed, of RON 612.5 million.

“The year 2019 has been a very difficult one, full of challenges for the energy industry and beyond. 2019 also marked the beginning of a new regulatory period, which brought significant changes. Significant changes in the legislative and regulatory framework have had visible effects on the business, and the costs of purchasing electricity have increased by approximately 25%. However, through a remarkable team effort, the Electrica Group achieved a higher consolidated net profit by over 71% compared to the budgeted amount for 2019.

The net realized individual profit ensures a stable dividend per share and an attractive dividend yield of over 7%, in line with the level with which we accustomed our shareholders,” commented Corina Popescu, General Manager, Electrica SA.