Romania’s electricity transporter Transelectrica sees profit quadruple

Romanian electricity transport operator Transelectrica saw its revenues drop over 10 percent year-on-year in 2013, to RON 2.46 billion (over EUR 557 million), shows the company’s preliminary results. However, Transelectrica’s net profit increased over four times to RON 162.2 million (EUR 36.4 million) in 2013, from RON 34.4 million (EUR 7.7 million) reported in the previous year. Most of the company’s total revenues, namely RON 1.15 billion (EUR 260 million), came from its transport service. In 2012, Transelectrica recorded revenues of RON 1.08 billion (some EUR 242 million) from transport services. The Romanian state is the majority shareholder of Transelectrica, with 58.7 percent of its stock, while Fondul Proprietatea owns 13.4 percent. Irina Popescu, irina.popescu@romania-insider.com