Romanian electricity distributor ups profit by over a quarter

Romanian electricity distributor Electrica posted a consolidated net profit of about EUR 96.4 million in the first nine months of this year, up by 27% year-on-year. The operating profit amounted to some EUR 112 million during this period, 22% higher compared to the same period last year. The net profit attributable to shareholders rose by 38% year-on-year. Electrica recorded a consolidated operating income of about EUR 923 million in the first nine months of the year, up by 10% compared to the same period last year. The company’s operating expenses dropped by 2%. The group’s main cost is the acquisition of electricity, which amounted to 48% of all costs in the first nine months of the year. Electrica is one of the biggest companies listed on the Bucharest Stock Exchange, with a market capitalization of over EUR 920 million. The state holds 49% of the company’s shares while the EBRD is the largest minority shareholder, with an 8.65% stake. editor@romania-insider.com