In the first nine months of this year, the Electrica Group registered a net profit of 302.4 million RON, down by over 38% compared to the value of 490.5 million RON recorded in the same period period in 2023.
According to a press release from the group, sent to AGERPRES on Friday, the decrease was mainly generated by the negative effect of 438.3 million RON from the variation in the net result of the supply segment (from a profit of 78.5 million RON in 9 months from 2023 to a loss of 359.8 million RON at 9 months 2024), partially offset by the positive effect of 274.6 million RON from the variation of the segment of distribution, respectively from a profit of 377.2 million RON at the end of September last year to a profit of 651.8 million RON in the similar period of 2024.
The operating profit recorded a value of 623.7 million RON, down 21.9% compared to the same period last year, mainly due to the performance of the supply segment.
"The consolidated results for the first nine months of this year reflect the complexity of a dynamic economic and regulatory context, but also our firm commitment to respond to these challenges with responsibility and strategic vision. We have intensified investments and made significant progress in implementing our strategy. In particular, the expansion of the renewable energy portfolio and the completion of the Vulturu project demonstrate our commitment to the energy transition to streamline and expand operations, to strengthen the regulated asset base and to increase the company's resilience in the face of market challenges. The increase in distributed energy volumes and the significant investments in infrastructure modernization demonstrate our determination to offer high-quality services to the nearly 4 million of our consumers", said Alexandru Chirita, Electrica CEO.
In the distribution segment, revenues increased by approximately 255 million RON (+ 8.1%), to 3.390 billion RON, from 3.135 billion RON in the first nine months of 2023, mainly from the increase in tariffs.
The group specifies that, starting from January 1, 2024, tariffs have increased by approximately 6.8% compared to those in Q2 2023 (by ANRE Order 115/2023), a positive effect to which is added the increase in the volumes of distributed electricity by approximately 5.1%. The contribution of the electricity distribution segment to the Group's consolidated revenues is 29.2%.
Since July 2014, Electrica has been a company with majority private capital, listed on the Bucharest and London stock exchanges. Electrica is the only listed Romanian company in the field of electricity distribution and supply.
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