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SOCIETATEA ENERGETICA ELECTRICA S.A. - EL

2018 Q3 report

Release Date: 11/15/2018 8:30:10 AM

IRIS Code: F4625

Electrica Group – Results for the third quarter of 2018

 

The evolution of the main indicators for the third quarter of 2018:

EBITDA – RON 706 mil., increase of RON 297 mil. as compared to Q3 2017

Net Profit – RON 315 million, a RON 220 million y-o-y increase

Decrease of supplied quantity by 4.6%, and of the distributed quantity by 1.1% y-o-y

 

The main results are presented below and are extracted from the consolidated condensed interim financial statements (not reviewed and unaudited) as of and for the period ended 30 September 2018:

Financial Results

Q3 2018

Q3 2017

Δ million RON

(RON million)

(RON million)

Operating revenues

4,126

4,170

-43

Operating expenses

3,742

4,054

-312

EBITDA

706

408

297

Operating profit

384

116

268

Net profit

315

95

220

 

Corina Popescu, CEO Electrica SA: ” The financial results of Electrica Group in the first nine months of this year are truly remarkable: a net profit increase of 230% compared to the same period of last year and EBITDA by 73%. In these nine months, we have not just reached, but we have already exceeded by 24% the net profit target for 2018.

On the supply segment we have managed to identify a balance between profitability and market share. This year, some stabilization of the energy purchase prices was noticeable, after we experienced the major imbalances in the energy market in the past year, but in the last period we notice a significant upward trend. There are still elements that point the need to improve legislation and to correct some market behaviors.

This year we continue our very ambitious investment program in our distribution networks, as well as the efforts to optimize and streamline our business, our priority being to improve the services that our 3.7 million customers benefit from, as well as ensuring sustainable financial results for our shareholders.”

 

The condensed consolidated interim financial statements as at and for the nine month period ended 30 September 2018 prepared in accordance with the International Accounting Standard 34 – “Interim Financial Reporting”, as adopted by the European Union, are available, in Romanian and English, in electronic format, on Electrica’s website, at

http://www.electrica.ro/investitori/rezultate-si-raportari/raportari-interimare/,

respectively

http://www.electrica.ro/en/investors/results-and-reports/interim-results/,

as well as under the below link:

 



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