Romanian electricity carrier Transelectrica Bucuresti recorded a net profit of EUR 47.5 million in the first nine months of this year, down 30% compared to the same period last year.

The company also saw a 14% annual decrease in its revenues, which reached EUR 420.8 million. The total operating expenses dropped by 12% year-on-year to EUR 361 million.

Transelectrica’s bottom line is mainly influenced by the volume of electricity transported, which depends on the local consumption, and by the electricity transport fees, which are decided by the energy sector regulator ANRE. While the company transported slightly more electricity than in the first nine months of 2015, the transport fee was 12% lower, which led to lower revenues from this business line and a lower net profit.

Transelectrica is listed on the Bucharest Stock Exchange. Its market capitalization amounts to some EUR 474 million. The state controls 58.7% of the company’s shares.

editor@romania-insider.com