Electrica Group posts total revenues of 1.6 billion RON, up 17 percent in Q1 2019

Total operating revenues of the Electrica Group in the first quarter of 2019 amounted to 1.6 billion RON, an increase of 17 percent or 237 million RON compared to the same period of 2018.

Consolidated EBITDA at Group level decreased by 117 million RON compared to the same period last year, mainly as a result of the negative change in the energy margin, on both main business segments.

The Group’s operating profit (EBIT) decreased by 128 million RON compared to the same period last year, adding to EBITDA the impact of depreciation expense, an increase of RON 11 million, following the application of a new accounting standard starting in 2019 , but also as a result of the volume of investments put into operation.

In the first three months of this year, Electrica Group posted an unaudited consolidated net loss of 41 million RON, down by 100 million RON compared to 2018.

“Considering the new legislative context and the fact that this year, compared to 2018, the regulatory framework has undergone significant changes, 2019 being the first year of a new regulatory period in the distribution segment, the results registered in the first quarter of this year were anticipated in the revenue and expenditure budget,” said Corina Popescu, CEO Electrica.