REG - Soc EnergElectricaSA - Q1 2025 Report

Societatea Energetica Electrica SAAnnouncement

27/05/2025 16:45

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RNS Number : 2854K  Societatea Energetica Electrica SA  27 May 2025

Summary of the IFRS-EU Consolidated Results for the 1(st) Quarter of 2025 - 27
May 2025

Increase of 53.2% in net profit and 14.6% in EBITDA at consolidated level in
Q1 2025

The evolution of the main indicators for Q1 2025 compared with Q1 2024:

§ EBITDA - RON 459.3 mn., an increase of 14.6% or RON 58.5 mn.;

§ Operating income - RON 3,176.2 mn., an increase of 23.6%;

§ Net profit - RON 195.7 mn., an increase of 53.2% or RON 68.0 mn.;

§ CAPEX PIF (commissioned) - RON 85.7 mn., an increase of 21.9%.

Statement from Alexandru-Aurelian Chirita, CEO of Electrica S.A.:

"The results for the first quarter of 2025 confirm the resilience of our
business model and Electrica Group's ability to perform in a complex economic
and operational environment. The solid growth in EBITDA and net profit is
mainly supported by the contribution of the distribution segment, as well as
by the balanced performance across all our business lines.

At the same time, we are accelerating investments in infrastructure and
renewable energy projects, with the clear objective of strengthening our
position as a key player in Romania's energy transition.

I am confident that our operational discipline, long-term vision, and the
professionalism of my colleagues will enable us to deliver sustainable value
to all stakeholders and contribute to building a secure and green energy
future for Romania."

Analysis of the consolidated financial indicators

The main results presented below are extracted from the condensed consolidated
interim financial statements as at and for the three-month period ended 31
March 2025 prepared in accordance with IFRS-EU:

 Financial Results - in RON mn.*  Q1 2025  Q1 2024  Δ      Δ%
 Operating income                 3,176.2  2,569.7  606.4  23.6%
 Operating expense                2,862.8  2,320.4  542.4  23.4%
 Operating profit                 313.4    249.3    64.1   25.7%
 EBITDA                           459.3    400.8    58.5   14.6%
 Financial result                 (79.6)   (79.5)   (0.1)  0.1%
 Net profit                       195.7    127.7    68.0   53.2%

*Amounts are rounded to the nearest whole value

Source: Electrica

EBITDA at the Electrica Group level recorded an increase of 14.6% or RON 58.5
mn. in Q1 2025, up to RON 459.3 mn., compared to Q1 2024, mainly due to the
operational performance of the distribution segment, given the increase in
revenues from electricity distribution by 14.8% or about RON 167.6 mn., to the
value of RON 1,298.2 mn..

The operating profit had an increase of 25.7% or RON 64.1 mn., reaching a
value of RON 313.4 mn. compared with the first three months of 2024, due to
the increase in the operating revenues offset by the increase in operating
costs.

The net profit for Q1 2025 recorded an increase of 53.2% or RON 68.0 mn.,
reaching a value of RON 195.7 mn.. This result is generated mainly by the
performance of the distribution segment in the context of the increase in
revenues as a result of the increase in quantity distributed.

On the distribution segment, revenues increased by approximately RON 167.6 mn.
or 14.8% to RON 1,298.2 mn. (of which RON 684.2 mn. revenues with external
customers), compared to Q1 2024, mainly due to the increase in the volume of
electricity distributed by 4.8% compared to the previous period, combined with
the increase in tariffs starting with 01.01.2025 by approx. 12.5%; the
contribution of the electricity distribution segment to the Group's
consolidated revenue is 27.2%.

For the supply segment, revenues increased in Q1 2025 by approximately RON
203.3 mn., or 12.6%, compared to the same period last year, to RON 1,818.1 mn.
(of which RON 1,810.7 mn. RON revenues with the group's external customers),
mainly as a net effect of the following 3 categories: i) the increase in the
quantity of energy supplied on the retail market by 3.7%, ii) the increase in
the purchase cost which results in higher subsidy revenues and iii) the change
given by the new ANRE guide dated 29 July 2024 regarding the new calculation
of the amounts to be recovered from the cap (subsidies). The contribution of
the supply segment to the Group's consolidated revenues is in the proportion
of 71.9%.

On 31 March 2025, the total amount estimated for subsidies was RON 2,398.6 mn.
(31 December 2024: RON 1,976.7 mn.).

OTHER IMPORTANT OPERATIONAL INFORMATION

§ Distributed electricity volumes - 4.61 TWh, up by 4,8% compared to 2024.
DEER serves approx. 3.98 mn. users, over an area covering about 40.8% of
Romania;

§ Volumes of electricity supplied to final customers - 2.0 TWh, up by 0.6%
compared to Q1 2024; Electrica Furnizare supplies electricity to approx. 3.5
mn. consumption places overall, out of which 1.79 consumption places on the
competitive market, as well 1.70 mn. consumption places in universal service
and as last resort supplier;

§ Supply market share - Electrica Furnizare is the largest supplier, with a
total market share of 17,16% and a competitive market share of 12.12%,
according to the latest ANRE report available (January 2025);

§ Electrica Group continues to pursue the expansion of its portfolio in the
field of electricity production, especially from renewable sources, having at
this time projects in different phases of execution with a capacity of approx.
300 MW.

In case of Vulturu project (P = 12 MWp), starting 21 October 2024 it is
connected to the National Energy System and is operating in the testing period
according to the applicable regulations. Currently, the trial tests have been
successfully completed and the certificate of compliance with the technical
regulations issued by the responsible grid operator has been obtained.

In the case of Satu-Mare 2 project (P = 27 MWp), the final execution phase has
started, and after the completion by the Distribution Operator of the
connection installation, the necessary steps to perform the compliance tests
and obtain the license for commercial operation of the production capacity, in
accordance with the rules in force, will be followed;

§ The Regulated Asset Base (RAB), in nominal terms, with inflation of 4.0%
for the year 2025 is estimated at the end of the first quarter of 2025 at RON
8.4 bn..

§ At the end of the first quarter of 2025, the operator Distributie Energie
Electrica Romania (DEER) realized and commissioned investments worth RON 85.7
mn, representing 100% of the estimated value of the commissioning programme
planned for this period at RON 85.7 mn..

 

***

The results presented in this press release are based on the simplified
consolidated interim financial statements as at and for the three-month period
ended 31 March 2025, prepared in accordance with IFRS-EU.

The documents related to the Q1 2025 results are available on Electrica's
website at the following link:
https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-q1-2025/
(https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-q1-2025/)
.

We remind you that Electrica's management is organising on 29 May 2025, 16:00
(Romanian time), a web conference for analysts and investors: Presentation of
Electrica Group Q1 2025 Financial Results
(https://www.electrica.ro/en/investors/results-and-reports/analyst-presentations/presentation-of-the-financial-results-for-q1-2025/)
. The web conference can be accessed online under the following link:
https://87399.themediaframe.eu/links/electrica250529.html
(https://87399.themediaframe.eu/links/electrica250529.html)

Contact Details: Electrica Investor Relations - ir@electrica.ro
(mailto:ir@electrica.ro) ; +40731796111

 

CEO
CFO

Alexandru-Aurelian
Chirita
Stefan Alexandru Frangulea

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