March 7 (SeeNews) - Romanian power supplier and distributor Electrica [BSE:EL] said its net profit climbed by 11% year-on-year to 620.4 million lei ($135.7 million/124.8 million euro) in 2023.
The company's operating income edged down by 3.7% to 13.333 billion lei in 2023, according to a financial report filed with the Bucharest Stock Exchange on Wednesday.
Electrica Group's operating profit increased by 22% on the year to 1.011 billion lei, underpinned by a 688.6 million lei decrease in operating expenses compared 2022.
The group's earnings before interest, tax, depreciation, and amortisation (EBITDA) reached 1.733 billion lei, marking an annual growth of 27%.
Electrica saw an improvement in most of its financial figures in 2023 thanks to the performance of its distribution segment, which brought in revenues of 4.412 billion lei, up 30% on the year. Meanwhile, revenues generated by the company's supply segment decreased by 11% to 7.280 billion lei.
The group's distributed electricity volumes inched down by 3.8% in annual terms to 17.05 TWh, while volumes of electricity supplied to final customers dropped by 9.1% to 7.8 TWh.
Last week, Electrica's shares were admitted for inclusion in the FTSE Russell indices.
Electrica Group includes the parent company Electrica, in which the Romanian state owns a stake of 48.8%, and seven subsidiaries. Electrica shares are listed on the Bucharest Stock Exchange and its Global Depositary Receipts are listed on the London Stock Exchange.
The group's parent company registered an individual net profit of 19.2 million lei in 2023, down from 24.3 million lei in 2022. Its proposed dividend scheme for the last year is identical to the previous one, with a gross dividend of 0.1178 lei per share to be paid out for a total gross dividend amount of 40 million lei.
Electrica's shares traded 1.48% lower at 12.02 lei per share as at 1052 CET on Thursday on the Bucharest bourse.
(1 euro=4.9718 lei)