Nuclearelectrica profits triple despite selling less energy
Nuclearelectrica, the partially state-owned Romanian nuclear energy company, saw profits triple relative to last year despite selling 4% less energy in the same period. The company registered a net profit of RON 1.94 bln (EUR 396 mln) in the first nine months of 2022, up 202% relative to last year.
The Nuclearelectrica plant located in Cernavoda is the only nuclear energy producer in Romania and is controlled by the Ministry of Energy, while also being publicly traded on the Bucharest Stock Exchange.
The company's revenues increased by 124.6% in January-September, to a total of RON 4.9 bln amid the energy crisis. The advance was determined by the 138% increase in the weighted average selling price of electricity between January 1 and September 30, 2022, compared to the price in the same period of the previous year.
Nuclearelectrica's stock price rose on Friday by 3.6%, reaching RON 43.45 (EUR 8.87) per share. With a capitalization of around RON 12.65 bln (EUR 2.58 bln), the company has a P/E ratio of 5.57.
The earnings before interest and taxes (EBIT), which measures a company’s operating profit, jumped 191%, while the earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose 126%.
The profits report confirmed results announced over the summer, Nuclearelectrica being one of the clear winners of the increase in energy prices.
(Photo source: Nuclearelectrica.ro)
