REG - Soc EnergElectricaSA - Half-year Report

Societatea Energetica Electrica SAAnnouncement

28/08/2025 16:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250828:nRSb1118Xa&default-theme=true

RNS Number : 1118X  Societatea Energetica Electrica SA  28 August 2025

Summary of the IFRS-EU Consolidated Results for the 1(st) Half of 2025 - 28
August 2025

 

Significant growth of both net profit and EBIDTA at consolidated level in H1
2025 vs H1 2024:

-       Net profit of RON 421.4 mn., an increase of RON 319.4 mn.
compared to the net profit of RON 102.1 mn. registered in the first half of
2024;

-       Positive EBITDA of RON 1,002.7 mn., an increase of RON 388.1 mn.
compared to H1 2024, from RON 614,7 mn.

 

The evolution of other indicators for H1 2025:

§ Operating revenue - RON 5,842.5 mn., an increase of 23.8% compared to H1
2024;

§ CAPEX PIF (commissioned) - RON 235.3 mn., an increase of RON 36.1 mn.
compared to RON 199.2 mn. in 6M 2024.

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

"The results of the first semester of 2025 confirm Electrica Group's solid
growth trajectory. The recorded consolidated net profit is four times higher
than in the same period in 2024, and EBITDA exceeded the threshold of 1
billion RON. This performance reflects the efficiency of our strategic
decisions and the resilience of our integrated business model. Distribution
continued to be a pillar of stability, while supply posted a significant
recovery, and investments in infrastructure accelerated according to plan.

With these results comes great responsibility. The full liberalisation of the
market and the energy transition require vigilance and continuous adaptation.
The real test is only beginning: to show that we can maintain this level of
performance in a competitive and dynamic environment.

Electrica Group's strength lies in its people - over 8,000 professionals who
put their expertise and energy at the service of customers and communities
every day. I thank them for their professionalism and dedication, and our
investors for their trust. We will continue to invest in renewable energy,
grid network modernisation, and operational efficiency to build sustainable
long-term value."

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 six-month period ended 30 June
2025, prepared in accordance with IFRS-EU:

 Financial Results - in RON mn.*  H1 2025  H1 2024  Δ        Δ%
 Operating income                 5,842.5  4,720.3  1,122.2  23.8%
 Operating expense                5,136.0  4,397.5  738.5    16.8%
 Operating profit                 706.5    322.8    383.6    118.8%
 EBITDA                           1,002.7  614.7    388.1    63.1%
 Financial result                 (197.5)  (171.1)  (26.4)   15.4%
 Net profit                       421.4    102.1    319.4    312.9%

*Rounded amounts to the nearest whole value

Source: Electrica

In the first six months of 2025, EBITDA at Electrica Group level increased by
63.1%, respectively by RON 388.1 mn., reaching a value of RON 1,002.7 mn.,
compared to the value of RON 614.7 mn. achieved in the first six months of
2024. The rise in EBITDA was driven by::

Ø the increase with RON +266.8 mn. in the supply segment - EBITDA supply
reaching the value of RON 58.5 mn. from RON -208.3 mn. (negative) in the
previous period due to the improvement in the segment's operational
performance, with an increase in revenues of RON 364.7 mn., and in other
revenues, mainly subsidies, of RON 615.7 mn.;

Ø the increase with RON +122.5 mn. in the distribution segment - distribution
EBITDA reaching RON 962.3 mn. in 2025 vs. RON 839.5 mn. in 2024, due to the
increase in revenues from electricity distribution by approximately RON 270.6
mn..

The operating profit had an increase of RON 383.6 mn., reaching a value of RON
706.5 mn. compared to the registered value of RON 322.8 mn. realised in the
first six months of 2024.

The net profit of the Electrica Group for H1 2025 increased with RON 319.4
mn., reaching a value of RON 421.4 mn. from a net profit of RON 102.1 mn. in
the first half year of the previous year.

On the distribution segment, revenues increased by approximately RON 270.6 mn.
or 12.1% to RON 2,515.0 mn. (of which RON 1,367.4 mn. revenues with external
customers), compared to H1 2024, mainly due to a 3% increase in the volume of
electricity distributed, coupled with tariffs increases of approx. 12.5% as
per ANRE order no. 97/2024. The electricity distribution segment contributed
29.2% to the Group's consolidated revenue.

For the supply segment, revenues increased in H1 2025 by approximately RON
364.7 mn., or 12.4%, compared to the same period last year, to RON 3,302.5 mn.
(of which RON 3,283.3 mn. RON revenues with the group's external customers),
mainly as a net effect of four factors: i) a 1% increase in the quantity of
energy supplied to the retail market; ii) higher acquisition costs, which led
to higher subsidy income; iii) changes introduced by the new ANRE guidelines
dated 29 July 2024 on calculating recoverable amounts from the price cap
(subsidies); and iv) the amendment enacted by GEO no.6/2025,whichrises the
recognised percentage of imbalance in the electricity sector from 5% to 10% of
acquisition cost. The supply segment contributed 70% tot the Group's
consolidated revenue.

On 30 June 2025, the total amount estimated for subsidies was RON 2,622 mn.
(31 December 2024: RON 1,976.7 mn.). In the next period, 01 July until 04
August 2025, the amount of RON 542.6 mn. was collected.

 

OTHER IMPORTANT OPERATIONAL INFORMATION

§ Distributed electricity volumes - 8.95 TWh, up by 3,0% compared to H1 2024.
Distributie Energie Electrica Romania (DEER) serves approx. 3.995 mn. users,
across an area covering about 40.8% of Romania's territory.

§ Volumes of electricity supplied to final customers - 3.7 TWh, up by 1%
compared to H1 2024; Electrica Furnizare supplies electricity to approx. 3.4
mn. consumption places overall (the most in Romania), out of which 1.8
consumption places on the competitive market, and 1.6 mn. under universal
service and as supplier of last resort;

§ Supply market share - Electrica Furnizare is one of the largest suppliers
of electricity (based on supplied volumes), with a total market share of 15,3%
(2(nd)) and with 10.58% in the competitive market (3(rd)), according to the
latest available ANRE reports (January-May 2025);

§ The Group's total aggregated capacity, whether operational or in various
stages of development, is 307.5 MW (up to 324.5 MW) in renewable energy
production projects and 169.5 MWh across four energy storage projects.

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 half year of 2025 at RON
8.355 bn.

§ In the first semester of 2025, DEER carried out and commissioned
investments totalling RON 235.3 million, representing 109% of the
commissioning program planned for this period, and 29% of the annual value
planned and approved by ANRE for 2025 and recoveries from 2024.

***

The results presented in this release are based on the simplified consolidated
interim financial statements as at and for the six-month period ended 30 June
2025, prepared in accordance with IFRS-EU.

The documents related to the H1 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-h1-2024/
(https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-h1-2024/)
.

We remind you that Electrica's management is organising on 1 September 2025,
16:00 (Romanian time), a web conference for analysts and investors:
Presentation of Electrica Group H1 2025 Financial Results
(https://www.electrica.ro/en/investors/results-and-reports/analyst-presentations/presentation-of-the-financial-results-for-h1-2024/)
. The web conference can be accessed online under the following link:
https://87399.themediaframe.eu/links/electrica250901.html
(https://87399.themediaframe.eu/links/electrica250901.html) .

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

 

CEO
CFO

Alexandru-Aurelian
Chirita
Stefan Alexandru Frangulea

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IR BUGDISBDDGUI