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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Electricity distributors' profits, up by a third in Romania while Enel records highest earnings

Seven of the eight electricity distribution companies in Romania, each serving a different region in the country, saw their profits increase by 29.3 percent year-on-year in 2013, while their revenues were up by 6.1 percent, Romania-Insider.com has calculated based on data posted by Romanian investment fund Fondul Proprietatea, which holds minority stakes in all the seven companies.

Their combined revenues were EUR 1.16 billion and their net profits grew to EUR 212 million, results show. The increase in revenues and profits comes mostly from higher energy prices, as electricity consumption in Romania is on a downtrend, according to data from state-owned energy transport company Transelectrica.

The seven distribution companies are Enel Distributie Banat, Enel Distributie Dobrogea, Enel Distributie Muntenia, Electrica Muntenia Nord, Electrica Transilvania Sud, Electrica Transilvania Nord and E.On Moldova Distributie.

The eighth distribution company in Romania is CEZ Oltenia, which didn’t post its financial results. Each company distributes energy in one region of Romania, reflected in their names,  and each has quasi-monopoly on their respective region. Their activity is regulated by the National Regulatory Authority for Energy (ANRE).

The three distribution companies controlled by Italian group Enel posted the highest profits, totaling EUR 134 million, for joint revenues of almost EUR 500 million. They also have the highest net profit margins, with an average of 27 percent.

Enel Distributie Muntenia, which is the largest electricity distribution company in Romania, serves the southern Muntenia region which also includes Bucharest, Romania’s capital. The company’s earnings went up by 30 percent last year to EUR 60 million. Enel Distributie Banat distributes energy to the Banat region where the largest city is Timisoara, and Enel Distributie Dobrogea serves the Dobrogea region with its Black Sea port of Constanta.

E.On Moldova, which is controlled by German group E.On, posted a 22 percent growth in profits, to EUR 20 million. The company had the highest increase in revenues of the seven, respectively 11.3 percent, to EUR 173 million.

The other three companies are controlled by the Romanian state through the Electrica group, which the Government wants to list on the Bucharest Stock Exchange and on the London Stock Exchange in June.

Although the three companies posted an average 39 percent increase in earnings, they are still less profitable than the Enel companies, with combined profits of EUR 59 million for EUR 490 million in revenues. Net margin is 12 percent, which is half compared to Enel's.

tabeltabel

Andrei Chirileasa, [email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Electricity distributors' profits, up by a third in Romania while Enel records highest earnings

Seven of the eight electricity distribution companies in Romania, each serving a different region in the country, saw their profits increase by 29.3 percent year-on-year in 2013, while their revenues were up by 6.1 percent, Romania-Insider.com has calculated based on data posted by Romanian investment fund Fondul Proprietatea, which holds minority stakes in all the seven companies.

Their combined revenues were EUR 1.16 billion and their net profits grew to EUR 212 million, results show. The increase in revenues and profits comes mostly from higher energy prices, as electricity consumption in Romania is on a downtrend, according to data from state-owned energy transport company Transelectrica.

The seven distribution companies are Enel Distributie Banat, Enel Distributie Dobrogea, Enel Distributie Muntenia, Electrica Muntenia Nord, Electrica Transilvania Sud, Electrica Transilvania Nord and E.On Moldova Distributie.

The eighth distribution company in Romania is CEZ Oltenia, which didn’t post its financial results. Each company distributes energy in one region of Romania, reflected in their names,  and each has quasi-monopoly on their respective region. Their activity is regulated by the National Regulatory Authority for Energy (ANRE).

The three distribution companies controlled by Italian group Enel posted the highest profits, totaling EUR 134 million, for joint revenues of almost EUR 500 million. They also have the highest net profit margins, with an average of 27 percent.

Enel Distributie Muntenia, which is the largest electricity distribution company in Romania, serves the southern Muntenia region which also includes Bucharest, Romania’s capital. The company’s earnings went up by 30 percent last year to EUR 60 million. Enel Distributie Banat distributes energy to the Banat region where the largest city is Timisoara, and Enel Distributie Dobrogea serves the Dobrogea region with its Black Sea port of Constanta.

E.On Moldova, which is controlled by German group E.On, posted a 22 percent growth in profits, to EUR 20 million. The company had the highest increase in revenues of the seven, respectively 11.3 percent, to EUR 173 million.

The other three companies are controlled by the Romanian state through the Electrica group, which the Government wants to list on the Bucharest Stock Exchange and on the London Stock Exchange in June.

Although the three companies posted an average 39 percent increase in earnings, they are still less profitable than the Enel companies, with combined profits of EUR 59 million for EUR 490 million in revenues. Net margin is 12 percent, which is half compared to Enel's.

tabeltabel

Andrei Chirileasa, [email protected]

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