Nuclearelectrica published their 9M results yesterday, showing a 2% YoY decrease in sales, meanwhile EBITDA went up 1%. Finally, net profit amounted to RON 477m (+15%).
Nuclearelectrica’s 9M sales fell by 2.2% YoY, due to the 3.2% decrease of the weighted average price of electricity sold in 9M 2020 compared to 9M 2019. Meanwhile the total amount of electricity sold in that period actually increased by 1.2%.
EBITDA is up 1.1% YoY to RON 946.5m due to lower operating expenses among which the largest contributor to the raising EBITDA were lower costs of traded electricity (-38%).
Below the operating line the company’s net financial results surged to RON 34.9m from a net loss of RON -4.7m. The rise can be attributed to a favourable FX result. Finally, the bottom line amounted to RON 477m which represents an increase of 14.8%.
CAPEX wise, 51% of the RON 309m worth investment program for 2020 was realised in the 9M period. Note that the majority of those planned investments relate to upgrade works at Cernavoda NPP. In October, the Romanian and US authorities signed a EUR 6.8bn cooperation and financing agreement for the modernisation of Cernavoda’s Unit 1 and the construction of units 3 and 4.
