Transelectrica recorded an 18% higher profit in 2020

Transelectrica reports a net profit 18% higher in 2020, compared to the previous year, reaching 114 million lei. Gross profit increased by 60 million lei, standing at 167 million lei. This is due to reduced operational costs and efficient management of the electricity transmission company’s resources.

However, domestic consumption decreased by 3.48%, to 55.7 TWh, production was 5% lower, by 53 TWh, and the deficit increased by 84%, to 2.8 TWh.

“The results obtained in 2020, a complicated year for the entire economic sector, show that Transelectrica has adapted to business conditions and has managed to focus its efforts on those actions that are sustainable and essential for the safe operation of the National Power System: investments and maintenance. At the same time, in 2020, Transelectrica contributed to the functioning of the economy in a period marked by the effects of the pandemic, also having an important contribution to the Romanian state budget “, said the general executive director, Cătălin Niţu.

Operating revenues in 2020 registered a slight decrease of 1% compared to 2019, standing at 2.368 billion lei, compared to 2.398 billion lei in the previous year, due to the decrease in operating income related to zero profit activity and the decrease in the amount of transported electricity.

Total operating expenses from January to December 2020 decreased by 4%, to 2.198 billion lei.

On the segment of activities with allowed profit, on the main area of ​​basic activities, there was a decrease of 2% of revenues, determined by the decrease in the amount of electricity delivered to consumers.

Transelectrica obtained, for the third consecutive year, the Ba1 rating, with a positive outlook from Moody’s Investors Service, which means a solid financial profile with a low level of indebtedness and strong financial values.

Source: by

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