News

Electrica’s profit soars 29.8% in first half

Published

August 14, 2015

Comments

0

Share

Published:

August 14, 2015

Comments:

0

Share

Power supplier and distributor Electrica said its consolidated net income jumped 29.8% to RON 277.1 million (EUR 62.8 million) in the first half of this year, while operating profit climbed 13.5%, SeeNews reported.

Electrica’s operating revenue rose 7.5% to EUR 131.75 million, the company said in its unaudited consolidated financial report. Operating profit rose to EUR 71.24 million from EUR 62.76 million. Net financial income jumped to EUR 3.65 million from EUR 517,000 a year earlier.

Revenue from the distribution segment increased 7% to EUR 231.9 million, while revenue from the supply segment climbed 5% to EUR 488.3 million. The group distributed 8.5 TWh to approximately 3.6 million users, representing an increase of 6% compared to the year-ago period. Electrica’s investments in its distribution network increased by 21% to EUR 39.39 million in the first half.  The group purchased electricity worth EUR 290.4 million in the six months through June, up from EUR 254.4 million a year ago.

Blue-chip Electrica is simultaneously listed on the Bucharest Stock Exchange and the London Stock Exchange with a free float of 51.2%. The group operates in highly populated and industrialised areas of Romania. Electrica’s distribution business operates nearly 8,500 kilometres of high voltage lines, some 46,000 kilometres of medium and around 135,000 of low voltage.

 

Related Articles

federation bih electrcity prices 2024 cap

Electricity price growth for businesses in FBiH capped at 20% for 2024 – prime minister

01 December 2023 - The Government of the Federation of Bosnia and Herzegovina has declared a state of power supply emergency for 2024

Slovenia adopts action plan to halve energy poverty

Slovenia adopts action plan to halve energy poverty

01 December 2023 - According to Eurostat, more than 41 million people in Europe were unable to adequately heat their homes in 2021.

slovenia fee municipalities wind farms

Municipalities in Slovenia to get EUR 200,000 per MW of installed wind farm capacity

01 December 2023 - Incentives are another attempt to speed up wind farm projects in Slovenia, which hosts only three wind turbines

Sustainability risk management key Croatia green transition

HROTE’s Budimir: Sustainability, risk management are key for Croatia’s green transition

01 December 2023 - Ne CEO of Croatia's regulatory body HROTE Darjan Budimir says sustainable business models and quality in risk management are key for a successful green transition