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C.N.T.E.E. TRANSELECTRICA - TEL

2017 Q3 financial results

Release Date: 11/15/2017 8:02:18 AM

IRIS Code: 81DB7

Current report according to the provisions of Law 24/2017, Regulation 1/2006 of the CNVM and the BSE Code

Date of the report: November 15th, 2017

Issuer Company: National Power Grid Co. Transelectrica SA, managed under two tier system

Headquarters: Bucharest 1, 33 Blvd. Magheru

Working location: Bucharest 3, 2-4 Olteni Street

Phone/ fax numbers: +4021 3035 611/ +4021 3035 610

Single registration code: 13328043

Number in the Commercial Register: J40/8060/2000

Share capital subscribed and paid: RON 733,031,420

Regulated market where the issued securities are traded: Bucharest Stock Exchange

 

Quarterly Report, Q3 2017

Decreasing financial results compared to the same period of the last year were negatively influenced by decreasing of allowed activities profit due to decreasing of transmission tariffs with 10% and mainly due to negative result registered by zero profit activities.

Profit allowed operations: negative evolution of EBITDA was influenced by decreasing of transmission tariffs with 10% and increasing of the average purchase price for electricity, necessary to cover the own technological consumption  correlated  with registration in company expenses of depreciation of trade receivables from energy and balancing market.

Zero-profit operations: EBIT turned negative to RON - 56 mn as compared to the same period of previous year (RON 34 mn) influenced by decreasing technological system services tariffs with 20% and by significant increase of the procurement prices of technological system services, where from, the Company acquires the necessary services for safe function of the National Energy System.

Production and consumption increased during the reported period of 2017, as compared to the same period of 2016. Operational results variances are detailed below.

 

 

 

 

 

 

Financials

 

9Mo 2017

9Mo

2016

∆(%)

PROFIT ALLOWED ACTIVITIES

 

 

 

 

 

Charged energy volume

[TWh]

40.51

39.16

1.35

 ▲ 3%

Revenues

[Ron mn]

884

933

(49)

 ▼ 5%

Average transmission tariff

[Ron mn]

18.05

20.11

(2.06)

  ▼10%

Transmission revenues

[Ron mn]

794

852

(58)

 ▼ 7%

EBITDA

[Ron mn]

391

472

(81)

  ▼17%

Depreciation & Amortization

[Ron mn]

234

244

(10)

▼4%

EBIT

[Ron mn]

157

227

(70)

  ▼31%

ZERO-PROFIT ACTIVITIES

 

 

 

 

 

EBIT

 

(56)

34

(90)

   n/a

AGGREGATED (PROFIT ALLOWED & ZERO-PROFIT)

 

 

 

 

 

EBIT

[Ron mn]

101

261

(160)

▼62%

Net profit

[Ron mn]

65

213

(148)

▼70%

 

 

 

 

 

 

Operational

 

 

 

 

 

Consumption

TWh

42.1

40.8

1.3

▲3%

Production

TWh

44.3

44.0

0.3

   ▲0.7%

Export

TWh

  4.5

  5.2

(0.7)

  ▼13%

The report will be available starting with November 15th, 2017.

• online, on the website www.transelectrica.ro, section Investor Relations Reports Periodicals/Reports, respectively https://www.transelectrica.ro/rapoarte-2017;

• at the Company's headquarters: str. Olteni no. 2-4, sector 3, Bucharest

Georgeta-Corina POPESCU

Executive Director General

Directorate Chairman

 

 

 



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