Romanian energy distributor & supplier ups net profit by 21% in H1

Electrica, one of the biggest distributors and suppliers of electricity in Romania, recorded a net profit of over EUR 75.3 million in the first six months of this year (H1 2016), up 21% over the first six months in 2015. The net income attributable to the company’s shareholders reached EUR 60.3 million in the first half of the year, up 28% year-on-year. The group’s revenues reached EUR 596 million, up by 3.2% compared to the same period of 2015. On the supply segment the revenues went up by 2% on higher electricity volumes sold to clients whereas on the distribution segment the revenues dropped by 5%. Electrica’s biggest shareholder is the Romanian state, which holds 49% of its shares. The European Bank for Reconstruction and Development (EBRD) has an 8.6% stake and the remaining 42.4% of the shares are held by various individual and institutional investors. Electrica was listed on the Bucharest Stock Exchange and London Stock Exchange in July 2014. The group currently has a market capitalization of over EUR 1 billion. editor@romania-insider.com