Romanian power distribution company ups revenues but sees lower profit

Romania’s power distribution company Electrica upped its revenues in 2017 but posted a smaller net profit than the year before, it announced on the Bucharest Stock Exchange where it is listed. Electrica reached some EUR 105.3 million in revenues in 2017, up from EUR 80.7 million (including exchange rate difference) in 2016. Its net profit was of EUR 56 million, slightly down from EUR 58 million the year before, according to the company’s preliminary results. These are individual results for the holding company Electrica SA. The company controls three electricity distribution companies and an electricity supplier, which serve about a third of the households in Romania. Electrica is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 880 million. The state holds a 49% stake in the company. editor@romania-insider.com