Romania’s electricity carrier Transelectrica expects profit down by a third this year

Romania’s electricity transporter Transelectrica expects total revenues of RON 2.6 billion (or some EUR 584 million) this year, up some 7 percent compared to the preliminary results for 2013, and total expenses of RON 2.48 billion (EUR 557 million). According to the company’s revenues and expenses budget for 2014, the company has budgeted a gross profit of RON 118 million (over EUR 26 million) for this year, down over 31 percent compared to the 2013 preliminary results, and a net profit of RON 96.6 million (some EUR 21 million). For 2015, Transelectrica estimates total revenues of RON 2.79 billion (some EUR 626 million), while for 2016, it expects higher revenues of RON 2.86 billion (EUR 642 million). For 2015 and 2016, the company estimates total expenses of RON 2.65 billion (EUR 595 million) and RON 2.72 billion (EUR 611 million) respectively. For next year, the company estimates a net profit of some RON 111 million (almost EUR 25 million), while for 2016 expects its profit to go up to RON 114 million (EUR 25.6 million). The company proposes total dividends of RON 163.3 million (EUR 36.6 million) for 2013. 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