BUSINESS

Turceni Energy Complex profit revised downwardly almost two times

The 2009 estimated net profit of Oltenia’s largest energy producer Turceni Energy Complex has been downwardly revised by almost two times, from RON 45 M to RON 23.7 M, Mediafax reports. The electricity producer’s revenue was reduced by almost 17 per cent from RON 1.8 bn to RON 1.5 bn, while expenditures are smaller by 11.7 per cent – just RON 1.5 bn, compared to initial April estimates. On the other hand, the Ministry of Economy has also downgraded the complex’ forecast net profit for 2009 from RON 2.5 M to RON 697,000, by almost 3.6 times. In the case of Oletenia’s third largest energy complex Rovinari, the net profit forecast in 2009 is still RON 18.2 M, but the number of employees estimated for the end of the year went up by almost 20 percent, from 3,878 workers to 4,642.

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