REG - Soc EnergElectricaSA - Publication of the 2022 Results (Romanian OMFP)

Societatea Energetica Electrica SAAnnouncement

07/03/2023 18:30

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RNS Number : 2113S  Societatea Energetica Electrica SA  07 March 2023

ANNOUNCEMENT

The individual and consolidated financial statements as at and for the year
2022

Starting with 7 March 2023, 20:30 (Romanian time), the individual and
consolidated financial statements as at and for the year 2022 prepared in
accordance with Order of Ministry of Public Finance 2844/2016, with subsequent
amendments for the approval of accounting regulations conforming with
International Financial Reporting Standards, and the  Board of Directors'
Report for FY 2022 related to the above, as well as the auditor reports are
available, in Romanian and English, in electronic format, on Electric's
website, at www.electrica.ro (http://www.electrica.ro) , in the "Investors
> Results and Reports > Financial Results" section:
https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-2022/
(https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-2022/)
.

These are submitted for the approval of the Ordinary General Meeting of
Shareholders of Electrica convened by the Board of Directors of Electrica for
27 April 2023.

The results presented are based on the individual and consolidated financial
statements prepared in accordance with the Order of the Minister of Public
Finance no. 2844/2016 for the approval of the Accounting Regulations compliant
with the International Financial Reporting Standards. No later than 27 March
2023 the financial statements prepared in accordance with the IFRS-EU will
also be published.

Until 31 December 2021, the consolidated financial statements prepared in
accordance with OMFP no. 2844/2016 were equivalent to IFRS-EU. Starting with
31 December 2022, according to Order of Ministry of Public Finances (OMFP) no.
3900/2022, a new clause was included related to the regulatory accounts to
cover for own technological consumption network additional expenses for actual
energy costs as compared with the ex-ante ANRE prices recognised in
distribution tariffs, through quarterly capitalization of these additional
expenses as intangible assets, while in the IFRS-EU set of financial
statement, these expenses have a different accounting treatment.

Executive Summary:

In 2022, the net profit of Electrica Group amounted to RON 559 million. The
result was mainly generated by the performance of the supply segment, and
secondary, by the application of the new regulations regarding the coverage of
net costs with network losses, in the context of the increase in the unit
price of electricity, as well as the electricity deficit in the European
Union.

In 2022, Electrica S.A. obtained an individual net profit of RON 24.3 million.
The gross dividend proposed to be distributed from the individual profit of
the year 2022 recorded by Electrica S.A. is worth 0.1178 RON/share. The total
gross value of the dividends is RON 40 million.

The revenues of the Electrica Group, in 2022, amounted to RON 10,010 million,
representing an increase of 39.4% compared to the previous year.

 

 Operating revenues, out of which:                    13,840  7,375  6,666
   Revenues from subsidies                            2,687   -      -
   Income from the production of intangible assets*   989     -      -
 Operating expense                                    13,011  7,980  6,215
 (Loss)/Operating profit                              829     (606)  459
 EBITDA                                               1,363   (128)  953
 (Loss)/Profit net                                    559     (553)  388

 

For more information about the financial results of the Electrica Group in
2022, please see the following link:

https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-2022/
(https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-2022/)

 

 

Contact details:

Electrica Investor Relations

E-mail: ir@electrica.ro (mailto:ir@electrica.ro)

Telefon: +40 731 796 111

 

Chief Executive Officer
 

Alexandru-Aurelian Chirita

 

 

Chief Financial Officer

Stefan Alexandru Frangulea

 

 

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