The gross profit of the coal and power complex Complexul Energetic Oltenia CEO, one of the largest energy producers in Romania, increased more than five times in the first half of the year (H1) compared to the same period of 2018, to RON 189 million (EUR 42 mln), News.ro reported.

Its business rose by 7% to RON 1.51 billion (EUR 318 mln), according to data published by the company on August 20.

The operational result of the company (earnings before interest, tax and amortisation) was RON 614 mln (EUR 130 mln), 40% larger than in the same period last year.

The H1 results, this year and in 2018, were not impacted by the mandatory provisions in amount to the value of the CO2 certificates not purchased during the year, the company explained. In 2018, CEO posted RON 1.1 bln losses, after expenditures related to the CO2 certificates in amount of RON 830 mln.

Romanian coal-power complex CE Oltenia seeks EUR 100 mln loan

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editor@romania-insider.com