The Electric Power Company “Electrica S.A.” has registered an operating profit of RON 261 million in the first semester of the year after a significant increase from last year when the value was only at RON 18 million, according to the report submitted to the Stock Exchange (BVB). In the same period EBITDA grew from 2RON 263 million in the first six months of 2017 to RON 477 million this year.

The volume of the investments in the distribution network in the first six months of 2018 was of RON 289.5 million, increasing by RON 30.4 million or 12 percent, from RON 259 million in the first semester of 2017.

The cost of electricity purchased decreased by RON 262.7 million, or 17 percent, to RON 1,269 million in the six months period ended 30 June 2018, from RON 1,531 million recorded in the comparative period, when it has been recorded a significant electricity price increase.

Revenue from the distribution segment increased by RON 40 million, or 3 percent, to RON 1,244 million (out of which RON 671 million external revenues), compared to the first half of the prior year; the contribution of the electricity distribution segment to the Group’s revenues is of 25 percent.

In the first semester of 2018, the revenue from the supply segment decreased by RON 166 million y-o-y, or 8 percent, to RON 1,979 million (out of which RON 1,964 million external revenues), mainly from the variation of the revenues from BRP (“Balancing Responsible Party”); the contribution of the electricity supply segment to the Group’s total revenue is of 74 percent.

The company will give dividends for the year ended 31 December 2017, in amount of RON 245.3 million. The dividends for the year ended 31 December 2017 were approved through Resolution of the OGMS no. 2 from 27 April 2018 and started to be paid from 22 June 2018. Gross dividend per share approved by the OGMS was RON 0.7237.

Current liabilities decreased by 26 percent at the end of the first semester of 2018 compared to 31 December 2017, to RON 909 million from RON 1,224 million, mainly as a result of changes in the following categories:

  • the decrease of the bank overdrafts by RON 117 million, or 47 percent;
  • trade payables decreased by 216 million, or 31 percent, from RON 689 million to RON 474 million. The main categories included are: payables to electricity suppliers, CAPEX suppliers and other suppliers (of services, materials, consumables etc); the effect is the result of the payables turnover improvement.

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