Romanian electricity holding Electrica almost doubles profit in 2020
Electrica (EL), the biggest electricity distribution and supply group in Romania, recorded a consolidated net profit of RON 387 mln (EUR 80 mln) in 2020, up 87% compared to 2019.
The group’s consolidated revenues amounted to RON 6.5 bln (EUR 1.34 bln), up 3.5% year-on-year.
Electrica operates the power distribution grids in Romania’s Transylvania and northern Muntenia regions, with close to 200,000 km of power lines and 3.76 million clients served.
The group also has an electricity supply subsidiary – Electrica Furnizare.
The Romanian state is Electrica’s biggest shareholder, with a 49% stake. The rest of the shares are held by Investors on the Bucharest Stock Exchange and London Stock Exchange.
The Electrica shares are up almost 10% this year and 37% in the last 12 months (as of March 1, 2021). The group’s market capitalization is RON 4.76 bln (EUR 977 mln).