Romania: Big increase of profit for Electrica in first half of the year

, SEE Energy News

In the first half of 2020, Romanian electricity distributor and supplier Electrica had a profit increase. The company recorded a net profit in the amount of 39.3 million euros, which is by 74 % higher compared to the same period last year.

The company’s operating revenues rose by 3.2 % year-on-year to 675 million euros in the first six months of 2020, while its operating profit increased by an annual 91.% to 49 million euros.

EBITDA increased to 100.5 million euros in the first half of the year, compared to 74.2 million euros in the same period of last year, as a result of a strategy involving new transformation and efficiency processes at a group level.

Electrica’s CEO Corina Popescu said that the company’s objective is to further ensure its sustainable development, with plans that will bring added value for business, investors and customers, while consolidating the results and the solid financial profile of the company.