Electrica Group reported EBITDA of 170 million RON in first quarter

In the first quarter of 2023, EBITDA at the level of the Electrica Group registered an increase of 220 million RON, reaching 170 million RON, compared to the negative value of 51 million RON achieved in Q1 2022.

The impact was generated mainly, by the operational performance of the distribution segment, due to the implementation of the centralized purchase mechanism MACEE, which determined a significant decrease in the costs incurred with the purchase of electricity for own technological consumption.

Electrica Group recorded revenues and other operating income in the amount of 3.5 billion RON in the first quarter of 2023, compared to 3.2 billion Euro in the same period of 2022, which represents an increase of approx. 254 million RON, or 7.8 percent.

At consolidated level, the net profit of Electrica Group, in the first quarter of 2023, recorded a loss in the amount of 66.6 million RON, a reduction compared to a loss of 157.8 million RON in the first quarter of 2022.

The net profit on the supply segment, in Q1 2023, is 24 million RON and positive EBITDA in the amount of 70 million RON.

Alexandru Chirita, CEO of Electrica said: “The financial performance of Electrica Group in the first quarter of this year attests to our corporate robustness and our commitment to operational optimization and strategic adaptation in the context of fluctuating economic and legislative landscapes. This upward trajectory, achieved in an energy market still under the sign of unpredictability, underlines the commitment we have at team level to the sustainable evolution of the Group.

As we shape our future plans, our strategy will continue to be underpinned by this agile approach, which will help us adapt our operations to market conditions. At the same time, we will focus on promoting the sustainable growth of each business entity, our objective being to strengthen financial stability and increase operational efficiency in all business divisions, thus strengthening the existing portfolio and ensuring stable prospects for the Electrica Group”.