Romanian power producer Nuclearelectrica posts 31% profit drop in 2024 on lower prices
Nuclearelectrica (BVB: SNN), the company that operates Romania’s only nuclear power plant – Cernavoda, reported a net profitof RON 1.7 bln (EUR 343 mln) in 2024, down 31% compared with the previous year.
Andrei Chirileasa · Journalist
· Updated · 1 min read
Nuclearelectrica (BVB: SNN), the company that operates Romania’s only nuclear power plant – Cernavoda, reported a net profitof RON 1.7 bln (EUR 343 mln) in 2024, down 31% compared with the previous year.
The company recorded 37.6% lower revenues from electricity sales due to lower average prices, while its production was 2.7% lower than in 2023, at 10 GWh. At the same time, the company saw 14.4% higher operating expenses. However, Nuclearelectrica paid significantly lower contribution to the Energy Transition Fund, which compensated part of the lower revenues and higher expenses.
Overall, the company’s EBITDA went down by 23.4% to RON 2.38 bln.
Nuclearelectrica’s shares went down 1.2% on Friday, February 28, after the company released its preliminary results. In the last 12 months, the SNN shares have lost almost 15% of their value, compared with an 11% growth for the BET index.
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