Nuclearelectrica: Net profit up 24% in Q1

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Nuclearelectrica (SNN) achieved a net profit of 219.285 thousand lei in the first quarter, up 23.9% over the same period last year, according to the first Quarterly Report for 2019.

Operating result (EBIT) increased by 42.9% and EBITDA increased by 25.9% over the same period of the previous year as a result of operating income growth of 18.7% and influenced by a growth of 22.9% of revenues from electricity sales, according to investenergy.ro.

Operating revenues increased by 18.7%, driven by a 23.5% increase in the weighted average price of electricity sold in the first quarter of 2019 versus the weighted average price of the first quarter of 2018, with the sale volume of electricity during the period January 1 – March 31, 2019 similar to the total quantity sold during the similar period of 2018 (marking a decrease of only 0.6%). Compared to the same period of the previous year, the amount of electricity sold on the competitive bidding market of the bilateral contracts increased by 9%, benefiting from an increase in the average sales price on this market by 18% (price without transport tariff TG), while the quantity of the electricity sold on the spot market (DAM) declined by 44%, with an average sales price on this market lower by 58% (price without TG), the Quarterly Report states.

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