Nuclearelectrica National Company (SNN) posted a net profit of 1.184 billion lei in the first half of this year, up 36.6% from the same period last year, according to its half-year report submitted to the Bucharest Stock Exchange (BVB) on Friday.
In the first six months of 2025, the company reported a net profit of 866.66 million lei.
According to data released on Friday, operating revenue increased by 2% in the first half of the year to 2.798 billion lei, while revenue from electricity sales rose 2.7% to 2.701 billion lei.
Operating profit (EBITDA) increased by 33.7% to 1.564 billion lei, while operating result (EBIT) rose 40.2% to 1.143 billion lei.
The increase in EBITDA was mainly supported by the 2.7% rise in revenue from electricity sales and the removal of the contribution to the Energy Transition Fund (CFTE), following the expiry of Emergency Ordinance No. 6/2025 after 30 June 2025. These factors were partly offset by a roughly 15.3% increase in operating expenses, excluding depreciation and impairment.
Operating revenue increased by 2%, mainly as a result of the 2.7% increase in electricity sales revenue, driven by a 12.7% rise in the weighted average price of electricity sold, while the total quantity of electricity sold fell by 11.7%.
Operating expenses, excluding depreciation, amortisation and the contribution to the Energy Transition Fund, increased by 15.3% to 1.234 billion lei. The increase was mainly driven by a roughly 61% rise in electricity procurement costs, an approximately 20% increase in repair and maintenance expenses and an 18% rise in other operating expenses.
Net financial income increased by 23% to 271.63 million lei, while net income tax expense rose by 36.2% to 230.93 million lei.
In terms of production, the electricity generated and delivered by Cernavoda NPP to the National Energy System totalled 4.154 million MWh in the first half of 2026, down 11.74% from 4.706 million MWh in the same period last year. In the second quarter, electricity delivered to the National Energy System fell by 23.4% to 1.520 million MWh.
Nuclearelectrica's investment programme for 2026 is worth 3.42 billion lei and, as of 30 June, investments amounted to 1.360 billion lei, representing an implementation rate of 39.76%.
The net electricity production programme approved by the Nuclearelectrica Board of Directors for the first half of 2026, as revised in February 2026, targets 4.45 million MWh and was 93.4% completed.
"The lower capacity utilisation factor at Unit 1 of Cernavoda NPP reflects the restriction imposed by CANDU Energy INC limiting the power output of Unit 1 to 90%, as well as unit shutdowns. The planned outage of Unit 1 lasted 1,237 hours, beginning on 10 May at 10:50. Unit 2 experienced an unplanned outage beginning on 4 May at 19:53, lasting 624 hours," the report reads.
Comentează