State-owned power producer Nuclearelectrica, which operates Romania’s Cernavoda nuclear power plant, announced a net profit of RON 477 mln (EUR 98 mln) in the first nine months of this year, up 14.8% compared to the same period of 2019.

The company’s operating income declined by 1.8% year-on-year, to RON 1.78 bln (EUR 366 mln), as a slightly lower sale price on the competitive market compared to the same period of 2019 counterbalanced the slightly higher electricity production (+2.1% yoy).

However, the operating expenses also went down by 5%, to 830 mln (EUR 171 mln), and the operating income – EBITDA went up 1.1%, to RON 946 mln (EUR 195 mln).

The company also recorded a positive financial result of RON 35 mln, unlike last year when it had a small financial loss.

In the first nine months, Nuclearelectrica realized a little over half (50.8%) of the investment program for this year, which total RON 309 mln (EUR 63 mln).

Nuclearelectrica’s shares ended the Thursday trading session down 0.6% compared to the previous day. However, the company’s shares are up 15% compared to the beginning of this year, not including dividends, and have performed significantly better than the blue-chip BET index, which they are also part of.

andrei@romania-insider.com

(Photo source: Nuclearelectrica.ro)