E.ON's turnover drops in Romania on lower gas, energy sales, but investment budget up for 2014

Energy company E.ON posted a turnover of around EUR 1 billion in Romania in 2013, 10.5 percent below the 2012 level, on lower energy and gas sales, the company announced. E.ON Romania sold 13 percent less gas and energy in 2013 than in 2012, according to the company's GM Frank Hajdinjak. He said during a press conference that the profit was also below the one in 2012, without giving further details. The company foresees higher turnover for 2014, should the market liberalization continue on the gas and energy segments. The company plans to invest EUR 95 million in Romania this year, up from EUR 83 million the year before. Most of the funds will go to modernizing networks. Since taking over Electrica Moldova electricity distribution company in 2004, E.ON invested around EUR 1.1 billion in Romania, and paid some EUR 1.2 billion to the state budget, according to the company. editor@romania-insider.com