Electrica Group registered in the first half of 2016 a consolidated net profit of 336 million lei, up by 59 million lei, or 21%, over the first half of last year, announced the company. Meanwhile, the quantity supplied increased by 9% and the distributed one, recorded a 2% increase, according to a press release by energynomics.ro.

The Electrica net profit attributable to the shareholders was 269 million lei, 28% higher than the same period in 2015.

In the first half 2016, the Electrica Group distributed about 8.7 TWh (up by 2% compared to first half 2015) to an estimated 3.66 million of users and provided 5.5 TWh (up by 9% compared to the first six months of 2015) to 3.6 million end customers.

“Continuing the evolutional process of last year, Electrica Group’s results in the first half of 2016 are good, which proves that the reform plan of Electrica is correct and the measures implemented by the company’s management are optimal. It is worth noting that the most significant net profit growth and 28% respectively, is the one incumbent to the shareholders of Electrica SA. This increase was due primarily to the gain from deconsolidating the Servicii Energetice Moldova company, as a result of the measures to streamline the Group structure,” says Iuliana Andronache, general manager, Electrica.

The operating profit (EBIT) for this period was 400 million lei, 26% higher than the same period in 2015.

In the first six months of 2016, the Electrica Group recorded a 17% increase in EBITDA, up to 577 million lei.

The operating income totaled in the first half of this year, 2.844 million lei, increasing by 119 million lei or 4.4% compared to the same period in 2015.

The supply segment was increased by 2% of the revenues, supported by an increase of 9% compared to the quantity supplied the first half of 2015.

Regarding the distribution segment, although average prices for the three operators were significantly lowered by ANRE (between 7% and 14%, depending on the operator), segment revenues decreased only by 5%, mainly due to the increase in 2% of the amount distributed.

In the mentioned period, the operating expenses increased by 1%, mainly through the acquisition of a greater amount of energy linked with the increasing amounts distributed and supplied in relation to the first half of last year.