Nuclearlectrica’s profit jumped 1625 pct last year: around 417 mln lei compared to 24.2 million in 2012

The upward trend Nuclearelectrica has seen within the first nine months of the past year has been confirmed by the financial report the nuclear company released at the end of the last week and that shows a major improvement, especially in terms of profit which amounted to some 417.4 million lei, 17 times more than in 2012. However, these are preliminary results. 

Romania’s nuclear power corporation has recorded progresses in all segments, the sharp discrepancy in profit between 2012 and 2013 being mainly due to reduced financial expenses corroborated by a significantly higher operating profit. 

According to the company’s report, operating profit almost tripled last year, reaching to about 448.4 million lei, while in 2012 it totaled only 160.4 million lei. At the same time, the operating expenses have not registered significant fluctuation, remaining at a level similar to that recorded in the previous year – about 1.6 billion lei over 1.5 billion lei in 2012. On the other hand, the financial expenses have dropped by 37.5 percent, coming to 56.6 million lei, compared to 90.7 million lei in 2012. 

Nuclearelectrica’s revenue also grew both the income resulted from selling electricity and its transport increasing over the other year. Thus, the company’s total revenue was of 2 billion lei, nearly 22 percent higher than in 2012. 

Last fall, Nuclearelectrica ran an initial public offering for 10 percent of its stake, the first IPO on the Bucharest Stock Exchange (BVB) in the last five years. The shares issued have been available for trading since November 4 and thanks to the positive results and the ranking among the Top 10 companies in terms of liquidity coefficient, the company’s shares (symbol SNN) were included by BVB’s Index Committee in BET, BET-XT, BET-BK and, consequently, in BET-NG and BET-C indices.  

Nuclearelectrica is the single nuclear power producer in Romania, operating two CANDU-6 reactors with natural uranium as fuel and heavy water, as cooling agent and moderator. The company has to subsidiaries – the Cernavoda Nuclear Facility and the Pitesti Nuclear Fuel Plant that supplies the fuel the two reactors need. Each of the plants has a capacity of 706 MWh covering approximately 20 percent of the national energy consumption.