REG - Soc EnergElectricaSA - Summary of 3rd Quarter Results

Societatea Energetica Electrica SAAnnouncement

15/11/2019 07:00

RNS Number : 5482T
Societatea Energetica Electrica SA
15 November 2019
 


Electrica Group - Results for 9M 2019
 
The evolution of the main indicators for the nine month period ended 30 September 2019:
§ EBITDA - RON 549 mn, decrease of RON 156 mn as compared to 9M 2018
§ Net profit - RON 161 mn loss, down by RON 154 mn compared with the 9M 2018 profit
§ Increase of retail supplied electricity quantity by 8.7%, and of the total distributed quantity by 0.5% y-o-y
 
The main results are presented below and are extracted from the consolidated condensed interim financial statements not reviewed or audited as of and for the period ended 30 September 2019:




Financial Results


9M 2019


9M 2018


Δ mn




(RON mn)


(RON mn)




Operating revenues


4,723


4,126


14.5%




Operating expenses


(4,530)


(3,742)


21.0%




EBITDA


549


706


-22.1%




Operating profit


194


384


-49.6%




Net profit


161


315


-48.1%




 
Georgeta Corina Popescu, CEO Electrica S.A.: "After a first quarter of this year marked by the significant changes of the regulatory framework, which had adverse effects on the business, we managed to recover and, to register a consolidated net profit of RON 161 million at the end of nine months, representing 133% from the budgeted value for the 2019 year.
 
In a period full of challenges, we continued to assume the role of responsible company to the 3.7 million users in the portfolio, as well as to the more than 7000 shareholders. We also believe that the authorities have a responsibility to ensure predictability, a regulatory framework that will stimulate investments, as well as equitable and non-discriminatory treatment for all participants in the energy market."
 
Starting with 15 November 2019, 8:30 a.m. (Romanian time), the condensed consolidated interim financial statements as at and for the nine-month period ended 30 September 2019 prepared in accordance with the International Accounting Standard 34 - "Interim Financial Reporting", as adopted by the European Union, and the  Board of Directors' consolidated report for Q3 2019 will be available, in Romanian and English, in electronic format, on Electrica's website, at www.electrica.ro, in the "Investors > Results and Reports > Financial Results" section, at http://www.electrica.ro/en/investors/results-and-reports/interim-results/ and in hardcopy, at the Company's headquarters in Bucharest, 9 Grigore Alexandrescu Street, District 1, which is open from Monday to Thursday between 08:00-17:00 (Romanian time), and on Fridays between 08:00-14:30 (Romanian time), excepting the legal holidays.




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