Nuclearelectrica (SNN), Romania’s state-controlled nuclear power producer, recorded a net profit of RON 234 mln (EUR 47.5 mln) in the first quarter of 2021, up 9% compared to the same period of last year.

The company’s revenues from electricity sales went up 9.3% year-on-year, to RON 684 mln (EUR 139 mln). The increase in sales was entirely due to higher prices on the electricity market, given that Nuclearelectrica’s power production was 6.6% lower than in the first three months of 2020.

Nuclearelectrica made more money from electricity sales mainly because it was able to sell more of its output on the free market, after the retail electricity market was liberalized in January 2021. The company's first-quarter report is available here.

Nuclearelectrica’s shares have been among the most profitable investments on the Bucharest Stock Exchange this year, with a year-to-date increase of over 58%, triple that of the BET index (18%).

editor@romania-insider.com

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