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Nuclearelectrica posts 27.8 pct higher profit in 2020


Energy producer Nuclearelectrica, the operator of the Cernavoda nuclear power plant, closed last year with a net profit of 684.7 million lei, by 27.8 percent higher compared to 2019, according to a company statement issued on Thursday, according to AGERPRES.

The company's energy output was 10,558 GWh, up 2 percent from the year before.

EBITDA amounted to 1.3 billion lei, by 10.6 higher, while the EBIT increased by 21.8 percent to 766.4 million lei.

Operating revenues were also 3.4 percent higher at 2.5 billion lei, with proceeds from electricity sales standing at 2.4 billion lei, up 2.8 percent.

"Although 2020 was a difficult year, the team of the National Company Nuclearelectrica (SNN) maintained their initial strategy regarding both financial growth and the continuation of the current and strategic investment projects in particular, the refurbishment of Cernavoda Unit 1 and the project of Units 3 and 4. We have constantly ensured the personnel for maintaining the vital nuclear safety functions, the efficient operation as well as support functions, we continued the company's internal projects in the area of recruitment and retention of highly qualified personnel, as well as of innovation by analyzing various new business opportunities: small modular reactors, the production of Cobalt-60 and green hydrogen," said Nuclearelectrica CEO Cosmin Ghita.

The inclusion of SNN in the London market's FTSE Russell index as of September 2020 was a positive signal to the capital market, with a maturation effect for both the local stock exchange and the SNN shares.

"In 2020 we relied on the previously acquired resilience, as we sought to send to our shareholders and investors a signal of confidence and efficient management of the company amid a difficult national and international context," Ghita added.


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