Electrica has a few months to digest the impact on the costs of the latest regulations, and will give shareholders a five-year strategic plan in early July.

“It is not an easy period,” said Corina Popescu, general manager of Electrica, in opening the presentation of financial results for 2018.

“The regulatory framework has changed last year, and the results have begun to be seen in the second half of the year. Although consolidated profits increased in 2018 by 34% in 2018, for 2019 Electrica estimates a 47% decrease in this figure.”

Electrica needs to transform, optimize, restructure, and for this it is going to develop a new five-year strategic plan.

“We need to show a greater focus on the end-user, on the users, on the distribution network and also on other business items that bring added value.”

Electrica earned an individual net profit of 298 million lei, up 15.4% from the level of 2017 based on the individual audited financial statements and a net consolidated profit of 230 million lei, up 34.3% of 2017.

The individually budgeted net profit for the year 2019 is 195 million lei and the consolidated net consolidated profit de lei 121 million lei.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.