February 26 (SeeNews) - Nuclearelectrica, the operator of Romania's sole nuclear power plant Cernavoda, said on Wednesday its net profit rose 31.7% on the year to 540.9 million lei ($122 million/112 million euro) in 2019 on the back of increased electricity sales.
EBIT increased by 18.6% year-on year, while EBITDA grew by 9.4%, mainly due to the increase of the operating income by 11% to 2.4 billion lei, Nuclearelectrica said in an interim financial statement filed with the Bucharest Stock Exchange, BVB.
Electricity sales generated revenues of 2.36 billion lei in 2019, up 12% year-on-year, as the weighted average price of the electricity sold rose on an annual comparison basis.
Operating expenses increased by 12.5% to 1.22 billion lei in 2019, mainly due to the higher cost of purchased electricity and a slight increase of personnel costs.
The Cernavoda nuclear power plant, located in southeastern Romania, has two reactors of 700 megawatts each, which meet roughly a fifth of the country's electricity needs.
Nuclearelectrica shares traded 2.35% lower at 14.94 lei by 0954 CET on Wednesday on the BVB.
Romania's energy ministry holds a 82.49% stake in Nuclearelectrica.
(1 euro =4.8079 Romanian lei)