Romanian group Electrica, the largest electricity distributor and supplier in the local market, recorded a consolidated net profit of RON 469 million (EUR 103 million) last year, down 3% over 2015.

The operating revenues rose 1% in 2016 to nearly RON 5.8 billion (EUR 1.2 billion) as the group restructured some of its operations.

The consolidated net profit attributable to shareholders amounted to RON 357 million (EUR 78.4 million), slightly down compared to the result in the first nine months of 2016. The decrease is explained by the fact that the company had losses of RON 11 million (EUR 2.4 million) in the last three months of the year.

Electrica will distribute 70.5% of the net profit attributable to shareholders as dividends. The dividend per share is RON 0.74 and represents 5.4% of the current share price, of RON 13.8.

The Romanian state has a stake of 48.8% in Electrica.

editor@romania-insider.com