Electrica Group - Results for 2019 half-year
The evolution of the main indicators for 2019:
§ EBITDA - RON 359 mn, decrease of RON 118 mn as compared to H1 2018
§ Net profit - RON 109 mn loss, down by RON 101 mn compared with the H1 2018 profit
§ Increase of retail supplied electricity quantity by 7.7%, and of the total distributed quantity by 0.3%
y-o-y
The main results are presented below and are extracted from the consolidated condensed interim financial statements as of and for the period ended 30 June 2019:
Financial Results |
H1 2019 |
H1 2018 |
Δ RON mn |
(RON mn) |
(RON mn) |
Operating revenues |
3,180 |
2,728 |
452 |
Operating expenses |
-3,056 |
-2,467 |
-589 |
EBITDA |
359 |
477 |
-118 |
Operating profit |
124 |
261 |
-138 |
Net profit |
109 |
210 |
-101 |
Georgeta Corina Popescu, CEO Electrica S.A.: "We are pleased to say that, despite the challenging context, Electrica Group managed to overcome a part of the negative conditions of the energy market and the regulatory framework and to record a consolidated net profit of RON 109 million in the first 6 months of the year, which represents 90% of the budgeted value for 2019.
It is also worth noting the operating revenues' increase, a natural consequence of both the increase in consumption during this period and the investments made, in particular, in our distribution networks and in improving the services provided.
Moreover, we are in the process of development of some new major projects, of which we will provide details in the near future. We have ambitious plans for the next period, which, in addition to continuing the optimization programs of the Group's activity, include the products and services offer improving in the supply segment, as well as meeting the needs of our customers, both by developing new solutions and services, as well as by sustained investments in networks and technology."
Societatea Energetica Electrica S.A. ("Electrica" or "the Company") informs the shareholders, investors and general public that the condensed consolidated interim financial statements as at and for the six-month period ended 30 June 2019 prepared in accordance with the International Accounting Standard 34 - "Interim Financial Reporting", as adopted by the European Union and the Board of Directors' consolidated report for the first semester of 2019 will be available starting with 14 August 2019, 8:30 o'clock (Romanian time), in Romanian and in English, in electronic format on the Company's website at www.electrica.ro, in the "Investors>Results and Reports>Financial Results" section, at http://www.electrica.ro/en/investors/results-and-reports/interim-results/, and in hardcopy at the Company's headquarters in Bucharest, 9 Grigore Alexandrescu Street, District 1, which is open from Monday to Thursday between 08:00-17:00 (Romanian time), and on Fridays between 08:00-14:30 (Romanian time), excepting the legal holidays.
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/9935I_1-2019-8-14.pdf
