Electrica Group reports EBITDA of 224 million RON, up 200 percent in Q1

Electrica Group registered a consolidated net profit of 80 million RON in the first quarter, an increase of 121 million RON compared to the same period of 2019. The consolidated EBITDA reached the value of 224 million RON, being 200 percent higher compared to the value in Q1 2019.

The increase in EBITDA was mainly generated by the supply segment, which registered an increase of RON 150 million compared to the level of Q1 2019, mainly due to the lower costs of electricity acquisition, corroborated with the increase in revenues.

The revenues of the Electrica Group, in Q1 2020, amounted to 1.6 billion RON, representing an increase of 4.7 percent compared to the same period of the previous year.

“The results recorded by the Electrica Group in the first three months of this year are above expectations in the existing situation,” said Corina Popescu, CEO of Electrica. “Since the end of the first quarter, we have faced an unprecedented situation, but we have managed to react promptly facing these operational challenges. (…) Electrica proved during this period that it remains one of the pillars of the economy, a strategic group, consisting of solid companies both operationally and financially, with stable cash flow and potential to maintain the investments undertaken. The increase of over 200 percent in EBITDA compared to the same period in 2019 is remarkable. Also, the increase in revenues and the decrease in expenses are already the effects of the implementation of the new strategy, of the transformation and efficiency processes at Group level.”