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Electrica’s profit soars 29.8% in first half

Published

August 14, 2015

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Published:

August 14, 2015

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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.

 

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