Corina Popescu, Electrica: We focus on increasing operational efficiency

In 2019, the Electrica Group achieved a consolidated net profit of 207 million RON, up 71.2% compared to the budgeted value for 2019, respectively 10.3% less than in 2018, based on the audited consolidated financial statements.

Electrica SA achieved an individual net profit of 258 million RON, up 31.9% from the budgeted value for 2019, respectively 13.5% lower compared to the level of 2018.

In 2019, the EBITDA realized by the Electrica Group amounted to RON 718 million, up 5.5% from the level of RON 681 million registered in the previous year. EBITDA growth was mainly generated by the distribution segment, which registered an increase of RON 74 million, respectively 13.9% over the previous year.

The total operating revenues of the Electrica Group, in 2019, amounted to 6.4 billion RON, representing an increase of 11.5% compared to 2018.

“As we all already know, 2019 has been a very difficult year, full of challenges for the energy industry,” said Corina Popescu, General Manager of Electrica SA. “2019 also marked the beginning of a new regulatory period, which brought significant changes. Significant changes in the legislative and regulatory framework have had a visible effect on the business, and the costs of purchasing electricity have increased by approximately 25%. However, through a remarkable team effort, the Electrica Group achieved a higher consolidated net profit by over 71% compared to the budgeted amount for 2019. (…) At the end of last year, we launched the Electrica Group Strategy for the period 2019-2023, which is already in the implementation phase and which enhances the benefits obtained through the transformation processes carried out so far and addresses the opportunities to prepare the Group for a sustainable evolution. We are convinced that the implementation of the strategy provides us with solid prospects for the company’s development. We continue to focus on increasing operational efficiency and improving the quality of the services we provide, based on sustained investments and ambitious programs to optimize activities and costs.”