Transelectrica obtained in the 1st semester (S1) of the year 2019 a gross profit of 35 million lei, whilst the annual gross profit budgeted was of 20 million lei, and the investments increased by about 27%, to about 86 millions of euros, the company announced.
“The impact of the legislative changes of the year 2019 for the companies in the energy sector was successfully amortized in the profit obtained by CNTEE Transelectrica SA in the first semester, through the implementation of a prudent and sustainable management strategy”, say Transelectrica officials.
Thus, in S1 of 2019, Transelectrica registered an improvement in terms of profitability with permitted profit, compared to the 1st Semester of 2018. Thus, in the main area of the basic activities – transport and dispatching for the national system – NES – in the 1st semester of 2019 , the company obtained better financial results compared to the same period of last year, the EBIT profit registering an increase of 23%.
“The central element of the financial year for the first half of 2019 is the ability to plan the company’s activity wisely and professionally. In a legislative context where we feel the first effects of some normative acts that regulate our activity, such as GEO 114/2018, the estimates of the Transelectrica management team anticipated a correct definition of the cost elements. The impact of over 16 million lei, generated by the increase of the tax on the turnover of the energy companies from 0.1% to 2%, was anticipated and mitigated by the increase of 9% of the revenues from the transport and other activities on the market.
”Also, the balance between the forecast and the achieved, both of the physical level and the costs with the own technological consumption (CPT) acquisition was properly managed, placing us below the budgeted limit of the values allocated for S1 2019. In other words, although there were high costs on the market, we restored the balance by adjusting the physical needs, through a good management of the maintenance of the installations and investments”, said Marius Carașol, president of the Board of Directors of CNTEE Transelectrica SA.
“Although we have registered an increase in the revenues from transport, we felt a decrease in the revenues from the technological services of the system, as a result of the decrease of the tariff approved by ANRE for these services, compared to the year 2018. Applying a prudent strategy we realized in the first quarter of for the year 2019 a gross profit of 40 million lei, and in the first semester a gross profit of 35 million lei, under the conditions of a gross profit budgeted for 2019 of 20 million lei. Even in this context, where the profit achieved in the first 6 months ensures us the guarantee of taking on any possible shocks from 2019, we continue to show caution and responsibility regarding the achievement of the objectives, so that at the end of the year the expectations of the investors will be met”, explained the president of the Transelectrica board.
