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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO power grid operator Transelectrica ups net profit despite lower revenues

Romanian state-controlled power grid operator Transelectrica (TEL) managed to increase its net profit by 18% in 2020 compared to 2019, to RON 113.7 mln (EUR 23.4 mln), despite a slight decline in revenues.

The total revenues were RON 2.37 bln (EUR 488 mln), down 1.25% year-on-year.

The operating profit went up by 45% last year, to RON 169 mln (EUR 34.8 mln), as the transmission services and technological system services generated higher gross margins.

The company’s personnel expenses also went up by 41% in 2020, to RON 296 mln (EUR 61 mln).

Transelectrica is one of the blue-chip companies on the Bucharest Stock Exchange that pay dividends every year as the state-owned companies are required to distribute at least 50% (sometimes over 80%) of their net profits to their shareholders.

The Transelectrica shares are up 37% in the last 12 months and 10% since the beginning of this year.

(Photo: Pexels)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO power grid operator Transelectrica ups net profit despite lower revenues

Romanian state-controlled power grid operator Transelectrica (TEL) managed to increase its net profit by 18% in 2020 compared to 2019, to RON 113.7 mln (EUR 23.4 mln), despite a slight decline in revenues.

The total revenues were RON 2.37 bln (EUR 488 mln), down 1.25% year-on-year.

The operating profit went up by 45% last year, to RON 169 mln (EUR 34.8 mln), as the transmission services and technological system services generated higher gross margins.

The company’s personnel expenses also went up by 41% in 2020, to RON 296 mln (EUR 61 mln).

Transelectrica is one of the blue-chip companies on the Bucharest Stock Exchange that pay dividends every year as the state-owned companies are required to distribute at least 50% (sometimes over 80%) of their net profits to their shareholders.

The Transelectrica shares are up 37% in the last 12 months and 10% since the beginning of this year.

(Photo: Pexels)

[email protected]

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