August 18 (SeeNews) - Romanian power supplier and distributor Electrica Group [BSE:EL] said on Thursday that it posted a net loss of 176 million lei ($37 million/36 million euro) in the first half of 2022, compared to a 76 million lei net profit in the same period of 2021.
Electrica's revenues rose by an annual 42% to 4.6 billion lei in the first six months of 2022, the company said in an unaudited consolidated interim financial statement filled with the Bucharest Stock Exchange.
Expenses for purchased electricity soared by 128% on the year to 4.94 billion lei in the review period.
The group's total assets rose to 9.56 billion lei at the end of June, compared to 7.8 billion lei at the end of 2021.
The total distributed electricity volume decreased by an annual 2.3% to 8,986 TWh during January-June.
Electrica Group, in which the Romanian state owns a stake of 48.8%, comprises seven companies. Its shares are listed on the Bucharest Stock Exchange and the London Stock Exchange.
Electrica's shares changed hands 3.07% lower at 8.68 lei on Thursday by 1409 CET on the Bucharest bourse.
(1 euro=4.8793 lei)