Transelectrica reports net profit of 82 million RON, tripling of the value of investments in Q1

The net profit registered by CNTEE Transelectrica SA in the first three months of 2021 is six percent higher than the profit from the same period last year, reaching 82 million RON.

The increase in profitability in the first quarter of 2021 was mainly achieved by reducing all operating costs as well as by efficiently managing the resources available in the Company’s accounts.

In the first quarter of 2021, Transelectrica realized 27 percent of the entire annual investment plan assumed by the Company’s management for the entire year, respectively 88,4 percent of the budgeted value for the first three months. For 2021, the Company has proposed a consistent annual investment plan worth over 307 million RON.

The financial analysis shows that the degree of realization of investments in the first quarter of 2021, compared to the first quarter of 2020, is 158.6 percent.

Total operating revenues achieved in the first three months of 2021 increased by 20 percent compared to the same period of the previous year, respectively 726 million RON, compared to 603 million RON in the first quarter of 2020. The increase in revenues was determined mainly due to the increase in the amount of electricity delivered to consumers, the increase in the average transmission tariff and the increase in revenues generated on the balancing market.