Acasă » Electricity » Nuclear » Nuclearelectrica reported a profit of 417.37 mln. lei for 2013, under the estimated earnings

Nuclearelectrica reported a profit of 417.37 mln. lei for 2013, under the estimated earnings

3 March 2014
Electricity
Bogdan Tudorache

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Nuclearelectrica (SNN ), the sole operator of nuclear power plants in Romania, reported last year a preliminary profit of 417.37 million lei (94.42 million euro), 17.25 times higher than in 2012 but under the earnings figure published in 2013 in the draft budget for the year.

In 2012, the company, controlled by the state, had a profit of 24.19 million lei.

On February 10, Nuclearelectrica published on its website the budget for this year, and this was pointing to a profit figure for 2013 of 456.7 million lei.

The company has budgeted a net profit of only 27.9 million (6.2 million euro), about 15 times smaller than the gain in 2013.

Nuclearelectrica total revenues increased by 21.6% last year to 2.05 billion, while expenses were 5% higher, at 1.6 billion lei, according to the data submitted to the Bucharest Stock Exchange.

The company expects this year to have revenues of 1.82 billion lei and expenditures of 1.78 billion lei, according to the income and expenditure for 2014, which will be subjected to approval of the company shareholders in March.

Nuclearelectrica states that “Expenditures were made ​​under austerity conditions as compared to the previous year and by real needs for maintaining long-term operating performance and nuclear safety, which are designed taking into account the expected evolution of a negative revenue to be obtained in 2014 compared to the previous year.”
Nuclearelectrica estimated to produce 10.54 TWh of energy this year, the sale of which will lead to a sales figure of 1.62 billion lei.
The company is obliged, this year, by the Energy Regulatory Authority (ANRE ), to deliver to population 3.74 TWh of energy , or 35.49% of production.
The price at which ANRE obliges Nuclearelectrica to sell energy on a fixed market, of 145.88 lei/MWh, has dissatisfied the lead producer of electricity, which sued ANRE in court.
The company covers approximately 18% of Romania`s  annual electricity.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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