February 24 (SeeNews) - Nuclearelectrica, the operator of Romania's sole nuclear power plant (NPP) Cernavoda, said on Friday that its preliminary net profit soared by an annual 163% to 2.729 billion lei ($589 million/555.6 million euro) in 2022, driven by higher energy prices.
Nuclearelectrica’s total income more than doubled, reaching 6.366 billion lei in 2022, compared to 3.116 billion in the previous year, the company said in a preliminary financial statement filed with the Bucharest Stock Exchange.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) also doubled to 3.547 billion lei in 2022 from 1.742 lei in the previous year.
Operating expenses jumped by 75% on the year, reaching 3.557 billion lei in 2022, leading to an operating profit of 2.942 billion lei, up by an annual 149%.
The company’s total assets amounted to 11.791 billion lei in 2022, increasing from 9.625 billion lei in 2021, while total liabilities summed 1.294 billion lei, up from 1.26 billion lei in the previous year.
Nuclearelectrica produced and delivered 10.2 GWh of electricity to the national grid in 2022, down 1.7% on the year. A share of 99.61% of the energy generated was sold on the free market at an average price of 600.15 lei per MWh, up from the 284.29 lei per MWh averaged during the previous year.
The Cernavoda plant features two operational nuclear reactors with a total installed power capacity of 700 MW each. The two reactors supply approximately 20% of Romania’s energy demands, according to data published on Nuclearelectrica’s website.
The Romanian state owns an 82.49% stake in Nuclearelectrica through the energy ministry.
Nuclearelectrica shares traded flat at 43.5 lei by 1222 CET on Friday on the Bucharest bourse.
(1 euro=4.9115 lei)