Transelectrica, the transport and system operator on the electricity market in Romania, estimates for this year a net profit of 145,9 million lei, half of the preliminary profit announced for 2016 (285,5 million lei), according to the budget of income and expenditures for 2017, which will be discussed at the General Meeting of the Shareholders (AGM) from April 13th.

The company estimates that the total revenue will be 3,095 billion lei in 2017, 12% higher than the preliminary results in 2016. However, the total expenditures are estimated at 2,920 billion lei, up by 21% over the previous year.

The system operator has budgeted for end-2017 a gross profit of 174,3 million lei, two times lower than the one obtained in 2016, respectively 347,4 million lei. However, the net profit of 285,511 million lei obtained in 2016, was down by 20,7% over the previous year.

Transelectrica announces investments planned for 2017 worth 824,3 million lei, up by 7% compared to the preliminary data for 2016, say company officials.

Through the Ministry of Economy, the Romanian state holds 58,6% of the Transelectrica shares, the rest being traded on the Bucharest Stock Exchange (BVB).