Electrica reported net profit of 376.5 million RON in 2024

Electrica Group reported a net profit of 376.5 million RON for 2024, an increase of 42.1 percent compared to the approved budget for 2024, according to the financial report of the company. In a market context characterized by volatility and uncertainty, the Electrica Group managed to exceed the objectives set within the approved budget, for all key indicators.

Although the 2024 budget estimated a 13.0 percent decrease in EBITDA at Electrica Group level, it recorded a lower decrease of 10.5 percent, to a value of RON 1,550.3 million, exceeding the budget by 2.8 percent.

Additionally, the 2024 budget projected a 34.2 percent decrease in operating profit, but it recorded a smaller decline of 26.0 percent, reaching a value of RON 748.4 million., exceeding the budget by 12.4 percent. This was due to a negative impact of RON 2,459,6 million, caused by a decrease in operating revenues, partially offset by lower operational expenses by RON 2,196.9 million.

At the same time, although the budget was built on a projected net decline of 57.3 percent, Electrica managed to achieve a consolidated net profit of RON 376.5 million, with a smaller decrease of 39.3 percent, exceeding the budget by 42.1 percent.

The 2024 result was mainly driven by the supply segment, due to the reduction in revenue from price caps, as a result of the recent amendments to OUG 27/2022, as well as a 2.6 percent decrease in the volume of electricity supplied on the retail market. This negative impact was offset by the favorable performance reported by the distribution segment.

Alexandru-Aurelian Chirita, CEO of Electrica S.A.: “The financial results for 2024 confirm Electrica Group’s capacity to deliver performance beyond the set objectives, despite a challenging market context. Significantly exceeding the consolidated net according to the budget profit by 42.1%, along with surpassing our investment targets, reflects the effectiveness of our strategy and our team’s determination to strengthen the company’s position in the energy sector.”