Nuclearelectrica reports nine-month profit of 331 mln lei

Romanian energy producers seem to be back on business after insolvency issues or losses registered over the past years. Putting Romgaz aside, which is one the most profitable companies in Romania and that enjoys a huge success these days, Nuclearelectrica follows the improvement tendency in this sector also confirmed by Hidroelectrica.

According to a Nuclearelectrica’s report on its performance within the first nine months of the year, there is a major improvement over the corresponding period in 2012 considering the turnover, the operating profit or EBITDA (Earnings Before Interest Taxes Depreciation and Amortization).

While the state-owned company’s turnover grew by 19.2% at nine months compared with 2012 (almost RON1.43 billion over RON1.2 billion), the operating profit more than tripled compared with last year, reaching nearly RON363 million. 

However, probably the most important aspect given these results is the transition from a RON34 million loss in the first nine months last year to a net profit of about RON331 million at the end of September this year. This impressive recovery is mostly due to an increase by 21.2% in total revenue, corroborated by a drop in total expenses by 10%. 

Also, within the analyzed period, Nuclearelectrica’s Unit1 from Cernavoda produced 4616GWh at a capacity factor of 100.17%, the Unit 2 registering a production of 4077GWh at a lower capacity factor – 88.4% due to the program of operational suspension run as planned in Q2 this year. Yet, the amount of electricity these nuclear plants produced and delivered between January 1 and September 30, 2013 is 3.4% higher in comparison with the volume produced within the similar period in 2012.