Transelectrica says H1 net profit increased by 282 percent to 116 million RON

Transelectrica registered in the first half of 2020 a net profit of 116 million RON. Compared to the same period last year, net profit in H1 2020 increased significantly by 282 percent.

Transelectrica registered in H1 2020 an improvement in terms of profitability of the activity compared to H1 2019. Thus, the total profit from operating activity increased by 108 million RON compared to the first half of the previous year, mainly due to the reduction of operating costs (including depreciation).

“Our commitment to investment and performance is firm even in special conditions such as those imposed by the current economic context. For Transelectrica, investments are the main source of development and technological evolution. As in any organization, the investment strategy and, in particular, the achievement of investment objectives have a key role in relation to all other activities. Through a unitary approach in terms of strategic decisions, we will improve the degree of achievement of the Investment Plan and the achievement of the company’s development objectives,” said Catalin Nitu, General Executive Director of Transelectrica.

In the segment of activities with zero profit, H1 2020 records a financial increase of 103 million RON compared to the loss of -58 million RON recorded in H1 2019. In the first half of 2020, revenues from technological system services increased by 16% compared to the same period of 2019 (343 million RON on June 30, 2020, compared to 295 million RON on June 30, 2019). This increase was determined by the increase of the tariff approved by ANRE for these services, given the decrease in the amount of electricity delivered to consumers and simultaneously with the decrease of expenditures on technological system services in H1 2020, compared to 2019 (298 million RON in H1 2020, compared to 353 million RON H1 2019).