Nuclearelectrica posts 84 million lei in Q1 2017 net profit, up 25.7pct y-o-y

Romania’s nuclear power producer Nuclearelectrica (BVB-SNN) has posted 84 million lei in Q1 2017 net profit, up 25.7 percent y-o-y, according to the company’s Q1 2017 financial results submitted to the Bucharest Stock Exchange (BVB).

The earning before interest and tax (EBIT) advanced 41.5 percent, while the earnings before interest, tax, depreciation and amortization (EBITDA) advanced 18.1 percent, both y-o-y.

“The 25.7-percent increase in the net profit, compared with an operating gross profit increase of 41.5 percent, is the result of the fact that that in the first quarter of 2017 a net financial expense of 1.838 million lei was incurred, compared with the same period of 2016, when a net financial income of 10.3 million lei was registered, expense generated by the net currency exchange differences,” according to Nuclearelectrica officials.

The company’s energy output was 2,766 GWh, slightly down 1.3 percent y-o-y.

The income derived on the electricity market related to the electricity delivered in the 1st quarter of 2017 is of 486,494,412 RON, up 3.36 percent against the value considered when preparing the budget for 2017 (the Q1 portion) and up 6.51 percent y-o-y.

At the same time, the quantity of energy traded on contracts, on the spot market – the PZU day ahead market and the and PI intra-daily market and on the balancing market was 2,789,218 MWh, by 0.77 percent more than planned sales of 2,767,838 MWh.

The total value of the investment program of SNN for 2017 is 231,593 thousand lei (the payment of debt service excluded).

The highest value of the SNN investment program, of 196,759 thousand lei in 2017, is for the CNE Cernavoda Branch. The investment program of the CNE Cernavoda Branch was 18.25 percent completed as of the end of the first quarter.

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