12th Nov 2021 16:46
Electrica Group - Results for 9M 2021
The evolution of the main indicators for the first nine months of 2021:
§ EBITDA - RON 475 mn, decrease of RON 354 mn as compared to 9M 2020
§ Net result - profit of RON 72 mn, down by RON 324 mn compared to 9M 2020
§ The total distributed electricity volume increased by 7.3%, and the retail supplied electricity volume by 1.3%, compared with the same period of the previous year
The main results are presented below and are extracted from the consolidated condensed interim financial statements not reviewed or audited as of and for the period ended 30 September 2021:
Financial Results* | 9M 2021 | 9M 2020 | Δ RON mn |
(RON mn) | (RON mn) | ||
Operating revenues | 5,160 | 4,895 | 265 |
Operating expenses | (5,045) | (4,434) | (611) |
EBITDA | 475 | 829 | (354) |
Operating profit | 116 | 461 | (346) |
Net profit for the period | 72 | 396 | (324) |
Statement of Corina Popescu, CEO of Electrica S.A.:
"The Romanian energy market recorded in the third quarter of this year, similar to the European markets, a steep increase in energy prices, of about 50% compared to the same period of the previous year. The volatile environment from this exceptional period is an important risk factor for both energy suppliers and distributors. We have considered all potential scenarios, we have identified solutions to ensure supply continuity and to strengthen our resilience to future shocks, we have met our commitments to customers, but the recording of significant additional costs, especially from the energy acquisition, it also had an impact on the financial results for this quarter.
During this complicated period, we continued the efforts to implement Electrica Group growth strategy, also by diversifying the financing sources for the important projects in the renewable energy production sector, energy efficiency projects, as well as investments in the distribution segment. We continue to be focused on operational performance increasing and improvement of the services provided, while optimizing costs.
In the current epidemiological situation, which prolongs not only the public health crisis, more predictability is needed, at least for the next period, especially in the complex mechanisms implementation context for offsetting invoices and capping prices for certain customers categories, recently adopted."
Starting with 12 November 2021, 18:30 (Romanian time), the condensed consolidated interim financial statements as at and for the nine-month period ended 30 September 2021 prepared in accordance with the International Accounting Standard 34 - "Interim Financial Reporting", as adopted by the European Union, and the Board of Directors' consolidated report for 9M 2021 will be available, in Romanian and English, in electronic format, on Electrica's website, at www.electrica.ro, in the "Investors > Results and Reports > Financial Results" section, at http://www.electrica.ro/en/investors/results-and-reports/interim-results/ and in hardcopy, at the Company's headquarters in Bucharest, 9 Grigore Alexandrescu Street, District 1, which is open from Monday to Thursday between 08:00-17:00 (Romanian time), and on Fridays between 08:00-14:30 (Romanian time), excepting the legal holidays.
\* The amounts are rounded to the nearest million
Chief Executive Officer
Georgeta Corina Popescu
The report is also available at the link below.http://www.rns-pdf.londonstockexchange.com/rns/2896S_1-2021-11-12.pdf
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