In 2019, Transelectrica recorded a decrease in sales of 12% YoY, increase in EBITDA of 2% and an increase in net profit of 28%.

As Transelectrica published their FY 2019 results, we are bringing you key takes from the report. According to the report, in 2019, the total quantity of electricity charged for services provided on the electricity market (55.34 TWh) registered a decrease of 0.8% YoY.

Total operational revenues achieved in 2019 decreased by 12% YoY to RON 2.4bn mainly determined by operational revenues associated to the zero profit activities (balancing market). The segment of profit allowed activities registered a slight 3% increase in revenues which amounted to RON 1.2bn in 2019. The growth can be attributed to the growth of the tariffs approved by ANRE back at the beginning of July. Revenues from zero-profit activities decreased 24% YoY to RON 1.2bn. This was mainly due to a 42% drop of revenues on the balancing market.

EBITDA is up 2%, amounting to RON 406.5m on the back of lower expenses which decreased by 13% YoY. As   regards   the profit   allowed   activities segment, expenses (amortisement included) registered a 3% increase. Meanwhile the zero-profit activities segment recorded 24% lower costs, mainly determined by the lower expenses on the balancing market.

Below the operating line, the company recorded a net financial result of RON -7m, representing a decrease of 15% YoY.

Finally, as a result of the abovementioned, Transelectrica’s net profit went up 28% YoY to RON 104.5m.

On the balance sheet the company continued to operate with net cash position which amounted to RON 227.4m (-20% YoY).

Transelectrica Key Financials