Romania's Transelectrica net profit halves in 2023

The company's total revenues declined by 25% to 4.721 billion lei in 2023, Transelectrica said in a preliminary financial report filed with the Bucharest Stock Exchange.

Transelectrica's total operating expenses decreased by 21% to 4.472 billion lei in the review period. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted to 724 million lei in 2023, 14% lower than in the year before.

Operating revenues decreased 10% year-on-year to 2.091 billion lei, while operational expenses fell 7%, to 1.367 billion lei.

Electricity production in 2023 increased by an annual 3% to 54.4 TWh, while consumption decreased by 5% on the year to 51.3 TWh.

Blue-chip Transelectrica's shares traded 3.19% lower at 30.3 lei as of 1114 lei on Wednesday on the Bucharest bourse.

(1 euro=4.97022 lei)