Electrica’s net profit increased 15 per cent in 2018 to 298 million RON

Electrica registered a net profit of 298 million RON in 2018, up 15.4 per per cent year on year, based on the individual audited financial statements.

The Board of Directors of Electrica S.A. approved and will submit for approval to the Ordinary General Meeting of Shareholders on 25 April 2019 the proposal to distribute a gross dividend of RON 0.73 per share of the individual profit for the year 2018.

The total gross dividend is 247.5 million RON, representing 87.4 per cent of the individual net profit after distribution to the legal reserve, based on the individual audited financial statements of Electrica SA for 2018.

In 2018, the Group earned a consolidated net profit of 230 million RON, up 34.3 per cent compared to 2017, based on the audited consolidated financial statements.

The total operating revenues of the Electrica Group in 2018 amounted to 5.7 billion RON, a level similar to that of 2017.

On the distribution segment, revenues increased by 2.3 per cent, in the context of the increase of the average and low voltage electricity distributed as well as due to the record investments in the distribution network. With regard to the supply side, net revenues decreased by 5.4 per cent, mainly as a result of the 3.4 per cent drop in deliveries, a mitigated effect on the improvement in the gross margin.

In 2018, the EBITDA of the Electrica Group amounted to 681 million RON, up 13.2 per cent compared to 601 million RON recorded in 2017. EBITDA generated by the supply segment in 2018 was 137 million, a significant increase over the previous year when EBITDA was 10 million RON.