Electrica, net profit of over 26 times higher in S1, as opposed to S1 2017

Electrica group reported a consolidated net profit of 210 million lei, during the first semester of this year, raising over 26 times from the similar period of 2017, according to the financial data published on Tuesday by the company. 

The profit obtained for 6 months represents 83 percent of the consolidated budget net profit for 2018. 

"It is remarkable to see the significant improvement of the financial results, recorded by the Electrica Group during the first 6 months of this year. If during the similar period of last year we mainly felt the effects of major imbalance on the energy market, currently we can say that the adopted measures proved to be efficient til present. They can be expected to stabilize the company's results in the future. The results of the first semester of 2018 are supported by our investments in the distribution networks and general improvement of services, but also by our efforts of optimizing the processes, the management systems and strategic directions that we aim to keep following," declared Catalin Stancu, CEO of Electrica. 

Also, the operational incomes of the Electrica Group during the first half of 2018 have reached 2.728 billion lei, dropping 1.3 percent from H1 2017. 

The Electrica group offers services to over 3.6 million customers and has a national area of coverage - with organization in three areas for the distribution of electric energy : Transylvania North, Transylvania South, Muntenia Nord, and for the area of the entire country for supplying power for upkeep and energy services. As of July 2014, Electrica is a mainly private capital company, listed on the Bucharest and London stock exchanges. Electrica is the only listed Romanian company from power distribution and supply. 

On June 30, 2018, the Romanian state, through the Ministry of Energy, had 48.7805 percent of shares in Electrica, the EBRD - 6.9247 percent, the Bank of New York Mellon - 3.4909 percent and other legal persons - 35.5567 percent and individuals - 5.2472 percent.