Nuclearelectrica reports a net profit up 18% in H1

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Bogdan Tudorache

Nuclearelectrica obtained, in the first half (H1), a net profit of 343.2 million lei, up by 18.1% compared to the same period of last year. The operating result (EBIT) registered an increase of 6.7%, and EBITDA, an increase of 4.4% compared to the same period of the previous year, according to the report submitted to the Bucharest Stock Exchange.

The gross electricity production of the two operational units of Cernavoda NPP was of 5,964,074 MWh in the first half of 2020, of which 5,498,634 MWh were delivered to the National Energy System.

Operating profit (EBITDA) increased by 4.4% compared to the same period of the previous year. The increase is determined by the decrease of operating expenses, less by depreciation and amortization, by 9.4%, partially offset by the decrease of operating income by 2.1%, influenced by the decrease of 2% of revenues from the sale of electricity.

Operating income decreased by 2.1%, due to the 9.6% decrease in the weighted average price of electricity sold in the first half of 2020 compared to the weighted average price in the same period of 2019, whilst the sale of a total quantity of electricity was higher by 8.6%.

The total value of SNN’s investment program for 2020 is of 309.5 million lei (excluding the component allocated to the payment of the debt service related to long-term loans).

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