Nuclearelectrica H1 net profit up by almost 60 pct YoY

Nuclear power producer Nuclearelectrica posted a net profit of 290.661 million lei in H1 2019, by 59.4 percent higher compared to the same period of the year before, shows company financial data sent on Wednesday to the Bucharest Stock Exchange.

"In the six months ended on June 30, 2019, National Company Nuclearelectrica made a net profit of 290,661 thousand lei. Operating profit (EBIT) was 69.2 percent higher and EBITDA was 31.1 percent up YoY, mainly as a result of the 20.1 percent increase in operating revenues, driven by the 22 percent rise in revenues from the electricity sales," the company said.

The gross electricity production of the two operational units of the Cernavoda nuclear power plant was of 5.368 million MWh in the first half of 2019, of which 4.919 million MWh were delivered into the National Energy System.

The company sold about 0.1 percent of the energy on the regulated market. For compliance with the provisions of Ordinance 114/2018, the national energy regulator ANRE established that Nuclearelectrica is to sell 1,377 GWh under regulated contracts (of which 6.1 GWh for the period January 1 - June 30, 2019); in the coming years, the company's sales obligations under regulated contracts shall be set at a maximum of 65 percent of the supplied amount of electricity.

Nuclearelectrica's revenues from electricity supplies in H1 2019 stand at 1.183 billion lei, 0.16 percent higher than the revenues budgeted for the respective period, and 21.8 percent up from the year-ago period