Electrica’s profit down by 26 pct to RON 239 mln in 2016

Newsroom 13/02/2017 | 11:30

Electrica, the electricity supplier and distributor in which the state owns owns a 48.78 percent stake, had a revenue of RON 362 million in 2016 and a profit that went down by 26 percent to RON 239 million.

The representatives of the company added that the results were influenced by some expenses during from the activity of the 2008-2010 period and some provisions for the doubtful clients valued at RON 41 million, as a result of the activity from 2016. Also the heads of the company estimate a reduced recovery.

The exploitation losses were almost doubled, respectively RON 141.4 million, compared with RON 72 million in 2015. The employees’ benefits were around RON 20.5 million, a growth by 23.49 percent.

The stock exchange capitalization of Electrica is RON 4.87 billion (EUR 1.1 billion) after the beginning of this year when transactions of RON 58.8 million were recorded, which led to an appreciation of the market value by 7 percent. In the last year, the stock capitalization of Electrica went up by 23 percent, one of the best evolutions of BET index, the capital market reference of the Bucharest Stock Exchange (BVB).

Georgiana Bendre