The amount of electricity supplied by Electrica increased by 6.7% in the first nine months of the year (9M), and the distributed energy grew 2.1%, reads a release received by energynomics.ro.
Net profit increased by 9% and earnings before taxation, interest, depreciation and amortization (EBITDA) rose by 10%.
Thus, Electrica recorded on 30 September 2016 a consolidated net profit of 466 million lei, up by 38 million, or 9%, compared to the first nine months of last year.
Net profit accruing to shareholders of Electrica SA had an increase of 13%, generated mainly by the gain in Energy Service Company Moldova spin-off, as a result of restructuring measures within the Group of the unprofitable activities.
“The results achieved by the Group Electrica in the first nine months of this year are in line with expectations. The Performance of the group should be viewed in the context that 2016 was a year of many challenges for companies in the energy sector in terms of energy market liberalization and the need to control costs or increasing efficiency in the distribution segment,” said Catalin Stancu, general manager of Electrica.
Operating profit (EBIT) for the first nine months was of 556.7 million lei, 12% higher than the same period in 2015.
In the same period, the Group recorded a 10% increase in EBITDA to a level of 838 million lei.
Operating income totaled in the first nine months of this year, 4,192.3 million lei, increasing by 60 million, or 1.4%, over the same period of 2015, amid the restructuring measures implemented, reads the company’s release.
Supply segment decreased by 1.2% of revenue generated by a 6.9% decrease in average selling price compared to the first nine months of 2015.
Regarding the distribution segment, even amid increasing by 2.1% in the quantities distributed, revenues decreased by 4.2%, while average tariffs decreased for the three operators served.
In the mentioned period, total operating expenses have not significantly changed.
In the first nine months of 2016, the Group Electrica distributed about 12.98 TWh (up 2.1% compared to the same period in 2015) to an estimated 3.67 million users and supplied 8.1 TWh ( up 6.7% compared to the first nine months of 2015) to 3.61 million end consumers.
