2019 Q3 report

EL SOCIETATEA ENERGETICA ELECTRICA S.A.

Electrica Group – Results for 9M 2019

 

The evolution of the main indicators for the nine month period ended 30 September 2019:

EBITDA – RON 549 mn, decrease of RON 156 mn as compared to 9M 2018

Net profit – RON 161 mn loss, down by RON 154 mn compared with the 9M 2018 profit

Increase of retail supplied electricity quantity by 8.7%, and of the total distributed quantity by 0.5% y-o-y

 

The main results are presented below and are extracted from the consolidated condensed interim financial statements not reviewed or audited as of and for the period ended 30 September 2019:

Financial Results

9M 2019

9M 2018

Δ RON mn

(RON mn)

(RON mn)

Operating revenues

4,723

4,126

14.5%

Operating expenses

(4,530)

(3,742)

21.0%

EBITDA

549

706

-22.1%

Operating profit

194

384

-49.6%

Net profit

161

315

-48.1%

 

Georgeta Corina Popescu, CEO Electrica S.A.: “After a first quarter of this year marked by the significant changes of the regulatory framework, which had adverse effects on the business, we managed to recover and, to register a consolidated net profit of RON 161 million at the end of nine months, representing 133% from the budgeted value for the 2019 year.

 

In a period full of challenges, we continued to assume the role of responsible company to the 3.7 million users in the portfolio, as well as to the more than 7000 shareholders. We also believe that the authorities have a responsibility to ensure predictability, a regulatory framework that will stimulate investments, as well as equitable and non-discriminatory treatment for all participants in the energy market.”

 

Starting with 15 November 2019, 8:30 a.m. (Romanian time), the condensed consolidated interim financial statements as at and for the nine-month period ended 30 September 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 Q3 2019 will be available, in Romanian and English, in electronic format, on Electrica’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.