Romanian electricity holding Electrica halves profit despite higher revenues
Romania’s biggest electricity distribution and supply group – Electrica, in which the state holds a 48% stake, recorded a consolidated net profit of RON 109 million (EUR 23 million) in the first half, down by 48% compared to the same period of 2018.
The group’s revenues increased by 17%, to RON 3.1 billion (EUR 660 million), but the expenses increased faster due to higher electricity prices and higher costs with green certificates.
Electrica is listed on the Bucharest Stock Exchange and London Stock Exchange.
The company, which counts the EBRD and the NN pension fund among its significant shareholders, has a market capitalization of EUR 815 million.
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editor@romania-insider.com
