In the first nine months of 2024, at the level of the Electrica Group, EBITDA recorded a value of 1,062.0 million RON, down 10.5% (or 124.5 million RON), compared to 1,186.5 million. RON in the first nine months of 2023. The largest share in the EBITDA variation was the decrease in revenues and other revenues in the supply segment with an unfavorable impact amounting to 2,531.4 million RON (of which subsidies 1,718.6 million RON – values ​​to be recovered from the Ministry of Energy as a result of the application of the capping of electricity prices) offset by the favorable impact from the decrease in the cost of purchasing electricity on the same segment in the amount of RON 2,204.1 million.

The net profit for the first nine months of 2024 is 302.4 million RON, registering a decrease of 188.2 million RON, from 490.5 million RON in the same period of 2023, being mainly generated by the negative effect of 438.3 million RON from the variation in the net result of the supply segment (from a profit of 78.5 million RON in 9L 2023 to a loss of 359.8 million RON in 9L 2024), partially offset by the positive effect of 274.6 million RON from the variation of the distribution segment (from profit 377.2 million RON in 9L 2023 to profit 651.8 million RON in 9L 2024).

The operating profit registers a value of RON 623.7 million for 9L 2024, down 21.9%, from RON 798.4 million for 9L 2023, mainly on the back of the performance of the supply segment.

“The consolidated results for the first nine months of this year reflect the complexity of a dynamic economic and regulatory context, but also our firm commitment to respond to these challenges with responsibility and strategic vision. We have stepped up investment and made significant progress in implementing our strategy. In particular, the expansion of the renewable energy portfolio and the completion of the Vulturu project demonstrate our commitment to the energy transition.

We remain committed to streamlining and expanding operations, strengthening the regulated asset base and increasing the firm’s resilience to market challenges. The increase in the volumes of distributed energy and the significant investments in the modernization of the infrastructure demonstrate our determination to offer high-quality services for our almost 4 million consumers,” said Alexandru Chiriță, CEO of Electrica.

In the distribution segment, revenues increased by approximately RON 255.0 million (or 8.1%), to RON 3,390.6 million, from RON 3,135.6 million in the first nine months of 2023, mainly from the increase in tariffs. We remind you that, starting from January 1, 2024, the rates have increased by approx. 6.8% compared to those in Q2 2023 (by ANRE Order 115/2023), a positive effect to which is added the increase in the volumes of electricity distributed by approx. 5.1%. The contribution of the electricity distribution segment to the Group’s consolidated revenues is 29.2%.

Regarding the supply segment, in the first nine months of 2024, revenues decreased by 15.2%, to 4,531.0 million RON, this variation being mainly generated by the decrease in the purchase cost by approx. 41% (which determines revenues from lower subsidies and the amendment given by the new ANRE guide of July 29, 2024 regarding the new calculation of the amounts to be recovered from capping – subsidies) and the decrease in electricity sales volumes by 2% . The contribution of the supply segment to the Group’s consolidated revenues is 70.2%.