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Bucharest
January 27, 2023
BUSINESS

Electrica S.A. net profit up by 600 pc year-on-year

According to a communiqué released by Electrica S.A., a leader in the distribution and supply of electricity in Romania, the company registered in 2014 a net profit of over RON 280 M, up by 612 per cent year-on-year.

“This remarkable evolution of the company’s net profitability comes as a result of the growth in financial revenues, due to the improvement in the performance of its distribution and supply subsidiaries, which was reflected in a rise in the dividends that were paid to Electrica S.A. as parent company,” Electrica SA CEO Ioan Rosca stated.

Its operational revenues stood at RON 249 M in 2014, down by 16 per cent year-on-year as a result of the fall in the value of service contracts with subsidiaries that are part of the group.

At the same time, in 2014 the expenditures followed the same trend, the 30 per cent fall in personnel expenditures standing out.

Consequently, Electrica’s operational profit stood at RON 101,000 in 2014, compared to an operational loss of RON 53 M in 2013. In order to ensure the comparability of the figures, the financial results registered in 2013 were recalculated in line with the new accounting standards.

Electrica S.A. is one of the most important players in the field of distribution, supply and other energy-related services in Romania. The company’s top position is backed up by its economic results and by its over 120-year experience on the market.

Electrica S.A. has national coverage, its local branches being located in the three areas of North Transylvania, South Transylvania, North Muntenia and also across the entire country, in what concerns network maintenance and the energy services segment.

The company offers high quality services for a large spectrum of clients – domestic and industrial consumers, as well as business enterprises. Through its distribution branches – Transilvania Nord, Transilvania Sud and Muntenia Nord, through the Electrica Furnizare branch and through the six Enterprises – Societati de Servicii Energetice – that run their business activities nation-wide, Electrica S.A. is serving approximately 3.5 million clients.

 

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