In the first three months of 2024, at the level of the Electrica Group, the profit before taxation, depreciation and amortization (EBITDA) recorded an increase of 170%, respectively of 252.1 million lei, reaching a value of 400.8 million . lei, compared to the value of 148.7 million lei achieved in the first three months of 2023. The increase in EBITDA was mainly generated by the operational performance of the distribution segment, against the background of the increase in revenues from electricity distribution by approximately 273.6 million lei (or 31.9%), to the value of 1,130.6 million lei, from 857.0 million lei in 2023.
The operating profit registered an increase of 227.8 million lei to the value of 249.3 million lei, mainly due to the positive impact of 1,169.6 million lei generated by the decrease in operating expenses.
The net profit for the year 2024 registered an increase of 170.7 million lei, reaching the value of 127.7 million lei, from the loss of 43.0 million lei in the first quarter of the previous year. The result is generated mainly as a result of the performance of the distribution segment, in the context of the decrease in electricity costs for CPT coverage, as a result of the implementation of the MACEE centralized procurement mechanism. According to it, the producers have the obligation to sell 80% of the available energy at a price of 450 lei/MWh, impact diminished by the increase in the volumes of electricity needed to cover losses in the network.
“The financial performances recorded by the Electrica Group in the first quarter of this year denote the ability of our team to adapt and progress in a dynamic economic environment. As proof of operational and strategic efficiency, EBITDA reached the value of 400.8 million lei , marking an increase of 170%. Net profit stood at 127.7 million lei, a notable improvement of 170.7 million lei, which underlines our commitment to generate value for shareholders and strengthen our position on market”, says Alexandru Chiriță, CEO of Electrica.
“Investments continue to be a priority at the level of the entire Group, with a strong focus on the distribution area, reflected by the 7.7% increase in the value of completed works. These investments are essential both for the modernization and development of the infrastructure we manage and for ensuring high-quality services for our customers, as well as for supporting the transition to increasingly sustainable energy sources.
This year we mark the 10th anniversary of the stock exchange listing, a key moment in the company’s evolution. It was a decade marked by significant achievements and major transformations, and the current performances give us the confidence that we are on the right track to continue the positive trends in the future,” adds Alexandru Chiriță.
In the distribution segment, revenues increased by approximately 273.6 million lei (or 31.9%), to 1,130.6 million lei, from 857.0 million lei in 2023, mainly from the effect generated by significant increase in distribution tariffs due to ANRE order no. 115/2023, in which the distribution tariffs were higher by approximately 6.8% compared to the last tariffs
