Romanian electricity carrier Transelectrica’s net profit up 50% in the first quarter

Romania’s electricity transporter Transelectrica ended the first quarter with a net profit of 136.5 million (EUR 30 million), up nearly 50 percent year-on-year, while its revenues increased by 21 percent, to RON 698.8 million (some EUR 155 million). The EBITDA profit went up 28 percent in the first quarter compared to the same period in 2013, to RON 246.9 million (EUR 54.8 million). From energy transport, the company recorded revenues of RON 326.5 million (almost EUR 74 million), with nearly 6 percent over the same period last year. The Romanian state is the majority shareholder of Transelectrica, with 58.7 percent of its stock, while Fondul Proprietatea owns 13.5 percent. Irina Popescu, irina.popescu@romania-insider.com