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Aug 17, 2023 12:48 EEST
August 17 (SeeNews) - Nuclearelectrica, the operator of Romania's sole nuclear power plant (NPP) Cernavoda, said that its net profit rose 5.6% year-on-year to 1.289 billion lei ($285.2 million/261.2 million euro) in the first half of 2023.
The company's operating profit edged down by 4.7% on the year to 1.627 billion lei in the first six months of 2023, Nuclearelectrica said in an interim financial statement filed with the Bucharest Stock Exchange, BVB, on Monday.
The decrease in Nuclearelectrica's operating profit was mainly a result of an increase in the cost of the contribution to the Energy Transition Fund, which was 149.5% higher in the first half of 2023 than the tax on additional income due for the same period of last year.
Operating revenues jumped by 20.4% on the year to 3.78 billion lei in the first six months of 2023, supported by a 21.5% hike in the weighted average price of the electricity sold during the period.
Electricity sales revenues rose by an annual 20.4% to 3.669 billion lei in the first half of 2023.
Nuclearelectrica generated about 4.92 million MWh of electricity in the first half, up 3% on the year.
The company invested 371.4 million lei in the first six months of the year, representing 27.6% of the 1.345 billion lei allocated for investment this year.
Total assets inched up to 11.804 billion lei at end-June from 11.792 billion lei at the end of last year, while total liabilities rose to 1.271 billion lei from 1.26 billion lei.
Nuclearelectrica' net profit soared 166.8% on the year in 2022, reaching 2.764 billion lei.
The Cernavoda plant, located in southeastern Romania, has two reactors of 700 MW each, which meet roughly a fifth of the country's electricity needs. The Romanian state owns an 82.49% stake in the company.
Nuclearelectrica shares traded 1% lower at 44.75 lei by 1116 CET on Thursday on the BVB.
(1 euro =4.9354 Romanian lei)
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