Romania Insider

Electrica's profit, down 12 percent in first quarter

Energy supplier and distribution company Electrica posted a net profit of around EUR 1.6 million in the first quarter of the year, down 12 percent on Q1 2009. The company's revenues went down by 2 percent during the period, to EUR 49 million. The drop was due to the results of the Electrica Serv subsidiary which is currently being reorganized. Electrica had a debt of around EUR 23 million at the end of March. The company's employees earn RON 4,376 (around EUR 1,000) on an average.

Electrica SA has seven subsidiaries – Electrica Transilvania Nord, Electrica Transilvania Sud, Electrica Muntenia Nord and Electrica Serv. The company's majority shareholder is the Economy Ministry.

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Romania Insider

Electrica's profit, down 12 percent in first quarter

Energy supplier and distribution company Electrica posted a net profit of around EUR 1.6 million in the first quarter of the year, down 12 percent on Q1 2009. The company's revenues went down by 2 percent during the period, to EUR 49 million. The drop was due to the results of the Electrica Serv subsidiary which is currently being reorganized. Electrica had a debt of around EUR 23 million at the end of March. The company's employees earn RON 4,376 (around EUR 1,000) on an average.

Electrica SA has seven subsidiaries – Electrica Transilvania Nord, Electrica Transilvania Sud, Electrica Muntenia Nord and Electrica Serv. The company's majority shareholder is the Economy Ministry.

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