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Electrica, net individual profit dropping to 195 million lei in 2019

190307103732electrica_logo.jpg

Electrica Company budgeted a net individual on the drop to 195 million lei for 2019, from 298 million lei last year, while the net profit budgeted at consolidated level is 121 million lei, compared to 230 million lei in 2018, according to a company press release.

“The result budgeted for 2019, on the drop compared to the previous year, is mainly explained by legislative amendments in the regulation area, both for distribution and supply,”says the source.

The general shareholders’ council suggests a gross dividend of 0.73 lei/share, corresponding to 87.4% of the net individual profit. The gross total value of dividends is 247.5 million lei, representing 87.4% of the net individual profit, established based on audited individual financial situations of Electrica for 2018.

In 2018, Electrica obtained a net individual profit of 298 million lei, on the rise by 15.4% compared to 2017. At consolidated level, the net profit of Electrica Group, in 2018, is of 230 million lei, on the rise by 34.3% against 2017, based on audited consolidated financial situations.

Overall operational incomes of Electrica Group in 2018 amounted to 5.778 billion lei, a level similar to 2017.

For distribution segment, incomes went up by 2.3%, in the context of the increase of electricity distributed for medium and low power, and because record investments in the distribution network. As for the supply segment, net incomes went down by 5.4%, mainly as an effect of the dropping quantities supplied by 3.4%.

Last year Electrica Group distributed about 17.7 TWh (on the drop by 0.9% against 2017) to 3.8 million users. Distribution operators within the group distributed about 40.3% of overall electricity distributes at national level to end users.

Electrica Supply has a market share of 17.02%. It is a leader in the market, with a share of 45.42%, while in the competition market it has a share of 9.34% (according to ANRE report for the first months of 2018).

Electrica Group offers services to about 3.8 million users and is organized in three electricity distribution areas: Transylvania North, Transylvania South, Muntenia North for electricity supply and for maintenance and power services.

Since July 2014, Electrica has been a company with majority private capital, listed at Bucharest and London stock markets.

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