Electrica consolidated net profit rose by 17 per cent in 2015

In mid-March, Electrica - the Romanian-state owned company specialized in electric power supply and distribution - announced that in 2015 they recorded a consolidated net profit of 108.3 million Euro (482 million RON), up 17 per cent over 2014, while revenue climbed to nine per cent, more than 1.23 billion Euro (5.5 billion RON)

2016-04-10 11:43:07 - From the Print Edition

According to a press release quoted by Ziarul Financiar, the revenue growth was supported by the distribution segment, up 5.6 per cent, to 584.27 million Euro (2.6 billion RON), but also by the revenues from the supply activity, excluding revenues from green certificates, which increased by 7.3 per cent to more than 921.34 million Euro (4.1 billion RON).
Also, Electrica Serv reported an external revenue growth, represented by services for companies in the group, from 4.94 million Euro (22 million RON) in 2014 to 7.41 million Euro (33 million RON) in 2015.
The expenses related to the purchase of electricity at the group level increased by 15.7 per cent to 606.74 million Euro (2.7 billion RON), an increase resulting mainly from the increase in global supplies. As a percentage of revenue, the cost of purchasing electricity represented the main cost at group level, 49.4 per cent.
Also, due to the revenue growth, Electrica has announced an increase in dividend by 20 per cent. Thus, the group proposed to pay a gross dividend of 0.19 Euro (0.86 RON) per share from the profit reported last year by about 20 per cent over the distribution made by the company in 2015. At the quotation from mid-March to group actions, the proposed dividend brings a yield of about seven per cent. The total gross of the dividend is of 65.5 million Euro (291.5 million RON), representing 60 per cent of consolidated net profit reported by Electrica in 2015. The registration for the collection and payment of dividends has been set for July this year.