Romanian energy producer Nuclearelectrica posts 69% lower profit in the first six months

Romanian energy producer Nuclearelectrica posted a net profit of RON 60.4 million (EUR 13.5 million) in January-June this year, down 69 percent year-on-year. The drop in net profit was mainly caused by lower selling prices on competitive markets and by the impact of tax on special construction, according to the company. The company’s electricity sales decreased by 11 percent year-on-year in the first half of 2014, to RON 783.1 million (EUR 175.5 million). The quantity of sold energy went slightly down to 5.2 TWh. Nuclearelectrica’s operational profit before interest, tax, depreciation and amortization (EBITDA) declined by 43 percent to RON 249.7 million (some EUR 56 million). The state is the main shareholder of the company, holding a stake of 81.2 percent. Irina Popescu, irina.popescu@romania-insider.com