Electrica Group reached profit of 388 million RON, up by 87.5 percent in 2020

The Electrica Group obtained, in 2020, a consolidated net profit of 388 million RON, registering an increase of 181 million RON, respectively 87.5 percent, compared to the previous year, according to TheDiplomat.ro.

The Board of Directors of Electrica SA has approved and will submit for approval to the Ordinary General Meeting of Shareholders, from April 28, 2021, the proposal to distribute a gross dividend amounting to 0.73 RON / share from the individual profit of 2020. total gross dividend is 247.9 million RON, corresponding to a percentage of 87.5 percent of the individual net profit after distribution to the legal reserve, established on the basis of the audited individual financial statements of Electrica SA for the year 2020.

Consolidated EBITDA reached 953 million RON, being 235 million RON higher than in 2019. The increase in EBITDA is mainly determined by the evolution of the supply segment amid the recovery of differences in electricity acquisition costs in the segment regulated by provision and by reversing adjustments for the impairment of uncertain receivables at Group level, in the amount of approximately 105 million RON, after making VAT adjustments for Oltchim, the bankrupt debtor.

The revenues of the Electrica Group, in 2020, amounted to 6,501 million RON,  representing an increase of 3.5 percent compared to the previous year.

On the supply segment, revenues were higher by 5.2 percent, in the context of the evolution of electricity sales prices on the retail market of + 2.8 percent, of the increase in the amount of energy supplied on the retail market by 0.4  percent, but also the increase of revenues from green certificates, the latter having a neutral impact on the supply margin.

Regarding the distribution segment, revenues were 0.4 percent higher, mainly as a result of the increase in distribution tariffs, canceling out the negative impact of reducing the amount of electricity distributed.

Consolidated costs for the acquisition of electricity increased by 1.2 percent, to RON 3,906 million, in 2020. This evolution was mainly generated by the distribution segment, following the increase of the costs with the acquisition of electricity to cover network losses. , by RON 28 million or 4.2 percent, as a result of an average purchase price of electricity actually achieved for its own higher technological consumption compared to 2019.

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