14 Aug 2018 07:00
Electrica Group - Results for the 1st Half-year of 2018
The evolution of the main indicators for the 1st Semester of 2018:
§ EBITDA - RON 477 mil., increase of RON 263 mil. as compared to H1 2017
§ Net Profit - RON 210 million, a RON 201.5 million y-o-y increase
§ Decrease of supplied quantity by 4.7%, and of the distributed quantity by 1.8% y-o-y
The main results are presented below and are extracted from the reviewed consolidated condensed interim financial statements as of and for the period ended 30 June 2018:
Financial Results | H1 2018 | H1 2017 | Δ million RON |
(RON million) | (RON million) | ||
Operating revenues | 2,728 | 2,766 | -38 |
Operating expenses | 2,467 | 2,748 | -281 |
EBITDA | 477 | 214 | 263 |
Operating profit | 261 | 18 | 243 |
Net profit | 210 | 8 | 202 |
Catalin Stancu, CEO Electrica SA: "It is worth noting the significant improvement in the financial results of Electrica Group during the first six months of this year. If in the similar period of last year we felt mainly the effects of the major imbalances in the energy market, at this point we can say that the measures adopted proved to be effective so far. They can be expected to stabilize the company results in the future.
The results of the first semester of 2018 are supported by our investments in distribution networks and the improvement of services in general, as well as of the efforts to optimize processes, management systems and strategic positioning that we intend to pursue further."
The condensed consolidated interim financial statements as at and for the six-month period ended 30 June 2018 prepared in accordance with the International Accounting Standard 34 - "Interim Financial Reporting", as adopted by the European Union, are available, in Romanian and English, in electronic format, on Electrica's website, at http://www.electrica.ro/investitori/rezultate-si-raportari/raportari-interimare/, respectively 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/7154X_1-2018-8-14.pdf
Electrica Regs (ELSA)